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High grade and crossover bonds

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◆ French real estate group prints seven year bond ◆ Covivio skips guidance and tightens spread sharply ◆ Investor selectivity returns as orders fall
Bifurcation is emerging in how investors treat the hyperscalers
◆ Japanese financial services group's UK arm prints three year bond ◆ Orderbook falls as issuer prices 'very tightly' ◆ Week front-loaded ahead of ECB meeting
◆ Only euro IG corporate deal on Monday ◆ Issuer slashes the spread and increases size ◆ Single digit concession spotted
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  • Nan Fung International Holdings managed to get the best of both worlds on Monday, finding the ideal price for its bond while also bagging a size within its target.
  • Chinese steel maker Shougang Group Co took advantage of an impressive rally in its outstanding notes to bag a new bond on Monday, with a strong peak order book of $4bn allowing it to slash pricing substantially.
  • CK Hutchison Holdings is wooing dollar debt investors for the third time this year, opening books for a triple-tranche deal on Tuesday morning.
  • South Korea’s Hanjin International is courting environmentally friendly investors for a new dollar bond, and will funnel the proceeds into refinancing debt taken for the construction of a green building.
  • Chinese steel company Shougang Group Co is returning to the dollar debt market with a new five year bond, while Yuzhou Properties Company is drumming up interest for its debut senior perpetual transaction.
  • Nan Fung International Holdings began marketing a new dollar bullet on Monday morning, the property developer’s second international bond this year.