Crédit Agricole

Chinese chemical company China National Bluestar (Group) Co raised $500m from a subordinated perpetual bond on Wednesday.

The European Investment Bank and the State of Brandenburg have mandated banks to bring euro deals on Thursday, in what has been an extremely thin week for supply with issuers well funded and some weakness in secondaries.

Sovereign, supranational and agency bond issuers are mobilising their resources to support the fight against Covid-19. The below table details the bonds they have issued, specifically in response to the coronavirus pandemic.

China National Petroleum Corp (CNPC) has returned to the dollar bond market after a six year absence, selling a three-tranche deal that generated $21bn of orders at the peak.

Europe’s corporate bond market burst into life on Tuesday with more than 10 primary deals on screens, as the US Federal Reserve’s plans to buy individual bonds brushed aside fears of a resurgence of Covid-19.

The New Development Bank was not able to claim a seat among the top supranational borrowers as it brought its debut dollar benchmark on Tuesday, pricing at a spread of over 30bp to the premium triple-A rated names, according to on-looking SSA bankers.

Castle Peak Power Co, a Hong Kong power generator, sealed a $350m energy transition bond on Monday. It was one of just a handful of these bonds sold in the world, and the second from Asia.

Crédit Agricole has mandated seven banks for its second outing in China's onshore renminbi market. The deal, again taking the form of a senior preferred bond, is expected to price next week.

Industrial Bank of Korea bagged $500m from a social bond on Monday, with the proceeds pegged to help companies struggling because of the Covid-19 pandemic.

First Abu Dhabi Bank bagged Rmb1.4bn ($198m) on Monday from its largest offshore renminbi bond to date.

In mid-May GlobalCapital hosted a specially convened panel of investment bankers, investors and a market infrastructure provider to discuss how capital markets have reacted to the coronavirus crisis and how they might play a role in the recovery of the global economy. The discussion, which took place remotely over Zoom, was the opening panel discussion of the Global Borrowers & Investors Forum, which this year is being brought to you in virtual form via a special digital publication on our website.

The Flemish Community has mandated banks to arrange the sale of new seven and 30 year bonds as the Belgian sub-sovereign looks to pump in cash to finance a budget deficit which has arisen from the coronavirus pandemic.