Goldman Sachs

Carnival Corp, the largest cruise line in the world — badly stricken by the impact of coronavirus on its business — raised €425m and $775m of 5.5 year bonds on Wednesday, which will be subordinated to the $6.25bn of bank loans and senior secured bonds it issued in June and April respectively.

Cifi Holdings (Group) Co sold its first green bond on Monday, raising $300m from a deal that received $2.25bn of investor order at its peak.

Following investor calls last Friday, two public sector borrowers hit the market for new dollar bonds on Monday, with IDB Invest going for a three year maturity and the Japan International Cooperation Agency making a rare appearance for a 10 year trade.

Electric vehicle maker Li Auto is planning to float American Depository Shares (ADS) on the Nasdaq. It is eyeing $100m in proceeds.

Chinese issuers continued to bombard the dollar bond market on Thursday. Hangzhou Financial Investment Group Co, Yankuang Group Co and ZhongAn Online P&C Insurance were among those that sold deals.

US corporate bond issuers got straight back to business after the July 4 weekend as 11 borrowers raised $10.8bn, though the volume of issuance is tapering off as companies head into earnings blackouts.

Unédic came to the market for its third social bond on Thursday after making its debut in the format less than two months ago. The deal extends the French agency’s social curve out to 15 years and completes its €10bn explicitly guaranteed funding allowance for 2020.

France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.

Sodexo, the French food service and facilities management firm, saw bumper demand for its €1bn no-grow dual-tranche bond issue on Wednesday, a day after it reported a 30% drop in revenue, and weeks after it shocked the US private placement (PP) market by saying it would repay around $1.6bn of debt early as it could do better in other financing markets.

Bank of Communications Financial Leasing Co priced a $800m dual-tranche deal on Tuesday. While it initially wanted to sell just a floating rate note, it added a fixed rate portion too due to investor interest.

The European Financial Stability Facility kicked off its third quarter funding in style as it raised 80% of its borrowing needs for the quarter flat to its sister issuer’s curve. Elsewhere in the euro market on Tuesday, Cyprus saw decent demand as it tapped its 2024s and 2040s.

Investors piled into KfW’s first dollar benchmark in six months on Tuesday, allowing the issuer to break the order book record for SSA dollar benchmarks.