Deutsche Bank

Multipolar has reopened its $200m 9.75% 2018s with a $30m tap. The Indonesian retailer made the offering to meet new financing needs but was restricted to a small issuance by high yield debt covenants, according to a banker on the deal.

Adira Dinamika Multi Finance launched its $200m facility to the market on Friday, February 28, pricing the deal at 175bp over dollar Libor — and managing to save 5bp over its previous loan.

Gemdale (Asia) Investment issued a Rmb300m ($49m) tap of its existing three year bond on Friday, just two days after pricing the original deal. The tap was driven by reverse inquiry from a sole investor, though bankers away from the deal have questioned the unusual move.

The list of Chinese firms eyeing up an US IPO has grown even longer thanks to mobile game developer Chukong Tech, which is planning to raise $150m in the second half of the year, according to a banker on the deal.

Nationwide Building Society has thrown its hat into the ring for selling additional tier one debt, mandating lead arrangers to gauge interest in what would be the first such deal to be denominated in sterling and the first AT1 paper to be sold by a non-bank institution.

Hella Hueck, the family-owned German car lighting maker, issued its third bond on Wednesday, to eager demand that drove the pricing inside where the lead managers saw its secondary curve.

Landesbank Baden-Württemberg (LBBW) returned to the covered bond market on Monday to issue a €500m 15 month Pfandbrief. The short dated funding was driven by the issuer’s asset liability matching needs and provided cheaper funding than it could have found in the money markets.

Strong levels of demand on offer for supranational and agency paper in dollars this week, as investors have grown comfortable with US Treasury yields in the belly of the curve, will hearten the several issuers that are looking at bringing benchmarks in the currency in the coming weeks.

Goldman Sachs exploited a stable background in the investment grade market to print its biggest fixed rate deal of the year.

Rating: Aaa/AAA/AAA

The dam opened again in the US corporate bond market this week and a torrent of issues poured out, as companies emerged from earnings blackouts and turned the week into the busiest for corporate high grade issuance so far this year.

AIA Group is meeting investors in the US this week for what would be its second dollar bond.