Currencies

Hong Kong-listed company Samson Paper is back in the loan market, after a two and a half year absence, for a HK$570m ($73m) refinancing.

KfW raised €1bn with a tap of a September 2032 line on Monday, hitting screens early on Monday morning and taking advantage of a good window with a one day execution.

British American Tobacco is expected to bring the week-long run without any new corporate bond issuance to an end later this week. The UK based tobacco company could issue in dollars, euros and sterling.

Verizon Communications launched its first Australian dollar bond on Thursday. The four tranche deal is the largest corporate bond in the currency this year, raising A$2.2bn ($1.75bn) when it was priced on Friday.

The scores are in. The BondMarker voters have delivered their verdict on Greece's long-awaited return to capital markets and on FMS Wertmanagement's five year dollar benchmark.

Verizon Communications launched its first Australian dollar bond on Thursday. As with its Swiss franc issuance in March, the US firm is aiming to further diversify its lending base.

Shougang Corp Co, one of China’s largest steel producers by volume and assets, priced its maiden euro bond on Thursday, joining a slew of Chinese names exploring the European market this year.

Rating: Caa2/B-/CCC

Greece’s comeback bond this week should build on its already strong secondary performance, said SSA bankers, paving the way for the sovereign to bring more deals before its scheduled bail-out exit in August 2018. Bankers were quick to point out that while the deal resembled its last comeback trade in April 2014, much has changed since — including its cost of borrowing.

Nederlandse Waterschapsbank this week became the first European SSA to print in the Swiss franc market since 2015, followed by Municipality Finance two days later. Favourable moves in the euro/Swiss franc basis, alongside rising Swiss interest rates, opened a window for old borrowers to return.

International Finance Corporation introduced the Kauri market to green bonds on Thursday, after opening books on a socially responsible New Zealand dollar note with a NZ$100m ($75.2m) minimum size.

Municipality Finance on Thursday became the second European SSA to enter the Swiss franc market this week, after Nederlandse Waterschapsbank became the first European SSA to place Swiss bonds since 2015.