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Senior Debt

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The bank tightened a little more than a UAE peer did on Tuesday
◆ 'Reassuring' result as Danish lender becomes more frequent issuer ◆ Strong bid from international accounts ◆ Minimal NIP
Hungary's change of government is still drawing in investors despite a difficult summer
Issuance from Turkey aside from the sovereign is down year-on-year, but not by much
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  • Banque Fédérative du Crédit Mutuel (BFCM) sold its first Swiss franc bond since 2014 on Monday, as international visitors to the market increase.
  • China Huarong Asset Management has lined up 15 banks for what will be its second outing of the year, while Beijing Properties is looking to make its offshore debut.
  • Industrial and Commercial Bank of China New York has wrapped up its second offshore bond, sealing $1bn on November 5. But while Asian interest was strong, the issuer’s aggressive pricing tactic meant demand from US investors was lacklustre.
  • Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.
  • ICBCIL Finance has made its debut in the 144A format with a triple-tranche dollar offering, meeting its objectives on both pricing and diversification.
  • China Life Insurance could soon be making another appearance in the international bond market, having obtained board approval for raising up to $3bn.