Credit Suisse

China Auto Rental (CAR) has priced its HK$3.62bn ($468m) Hong Kong IPO at the top of the range, in a deal where the retail portion was more than 160 times oversubscribed.

United Overseas Bank (UOB) made a return to the dollar market on Thursday, pricing a $500m 5.5 year issue. It was the Singaporean borrower’s first issue of dollar senior notes in more than two years and that fuelled investor appetite despite the presence of similar supply in the market.

India's Infrastructure Development Finance Company (IDFC) has raised Rp10bn ($164m) through a qualified institutional placement, in a deal that saw demand come in from around 30 domestic accounts.

Front month CBOE Volatility Index futures may experience a 1 vol point increase from -0.33 to 0.66 pts on Monday roll dates relative to historics, due to recent changes made to the indices methodology, closing off a strategy systematic volatility traders have been using to capitalise on the weekly “seasonality” effects of the roll.

After two debt exchanges classed as distressed, resulting in two defaults in 2013, Mexican telco Axtel looks to have convinced bondholders of its turnaround.

Covered bond issuers priced 10 benchmark sized deals this week, raising €11bn on the back of an aggregate €26bn of demand. Average order book sizes were boosted after the European Central Bank announced last week its intention to proceed with a third covered bond purchase programme.

Sovereign, supranational and agency borrowers this week enjoyed conditions that smacked of the exuberance of 2006 and 2007, but those issuers wanting to take advantage of supply-starved investors next week will have only a narrow window — as a Federal Open Market Committee meeting, a holiday in Japan and Scotland’s vote on independence will make opportunities for issuance few and far between.

Metropolitan Life hit screens with a trio of senior unsecured deals on Wednesday morning, looking to print in euros, Australian dollars and Swiss francs. Strong appetite for insurance company paper helped assure it of a warm reception for its euro and Aussie deals, with the francs yet to conclude.

Euro investors lapped up a second helping of Australian infrastructure bonds on Thursday, placing more than €3.1bn of orders for an inaugural 10 year deal from rail freight operator Aurizon.

The senior FIG market enjoyed a barnstorming week in euros. A combination of a positive market tone following last week’s European Central Bank meeting and high levels of cash at investment houses allowed issuers to rack up large order books while pricing at competitive levels.

The investment grade market was a story of the haves and have-nots as investors showed signs of fatigue amid a deluge of supply.

Powerlong Real Estate Holdings finally succeeded in tapping the dim sum market this week, raising Rmb1.5bn ($244m) via a 10.75% 2017 note on September 10. This was the issuer’s second attempt at a bond this year, having failed to price one in January.