Credit Suisse

Germany’s largest residential property company Vonovia attracted €4.5bn of demand for its latest deal on Thursday, as the property sector continues to be one of the more popular in the corporate bond market.

China Evergrande Group raised $3bn with a tap of three of its existing bonds, but the issuance put a dent in its secondary curve as noteholders fled to the juicier new deal.

Investors put their faith in Mongolia’s recovery story this week, helping Mongolian Mortgage Corp (MIK) raise $250m from a bond that showed appetite for frontier market risk. Addison Gong reports.

Mongolian Mortgage Corp (MIK) showed that investors have the appetite to take on frontier market risk, raising a larger-than-expected $250m from an issuance that was months in the making.

China Evergrande Group hit its size goal of $3bn with a tap of three of its existing bonds, a strategic decision by the property developer. But the issuance dented its secondary curve as noteholders fled to the juicier new transaction.

New issuance returned to the corporate bond market on Tuesday as Auchan and Vonovia attracted €8bn of demand for their new deals after two days without any trades. The new issuance spreads they paid differed markedly however.

Guangzhou R&F Properties has priced its second dollar bond of the year, capturing investors ahead of what is expected to be another busy week for Asia’s primary debt market.

Credit Suisse has appointed Eric Winarta as head of its Indonesia coverage for investment banking and capital markets.

Given the uncertainty created by Tuesday’s Brexit vote, the issuance frontloaded into the Swiss franc market at the start of the week was dominated by domestic borrowers.

The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.

Technology M&A will continue to power corporate finance activity in 2019 but, as deals increasingly cross sectors, banks are having to re-tool their coverage and break up internal silos, writes David Rothnie.

Hong Kong-listed Lenovo Group has given Asia its first real taste of equity-linked issuance for the year. The firm raked in $675m from its debut convertible bond (CB) after a flood of investors turned out for the deal, and as bankers gear up for more issuance. Jonathan Breen reports.