Goldman Sachs

The Republic of Finland had to share its return to dollar market on Wednesday with a trio of three year SSA deals. Demand for dollar SSA bonds has been strong this week, and with mandates out for five and seven year deals,issuers are still looking to take advantage

Hong Kong property company New World Development Co, which has taken hits to its business due to both the social unrest in the special administrative region and the Covid-19 outbreak, has raised $600m from the bond market with a 20bp new issue premium.

Dada Nexus, an operator of Chinese on-demand retail and delivery platforms, has set the ball rolling for a Nasdaq IPO.

China Resources Gas Group's stock price dropped by nearly 7% on Tuesday, following an equity fundraising the day before.

SEB offered investors a negative new issue premium with its preferred senior deal on Monday. With conditions consistently improving for European issuers, this deal has shown that the market is ripe for issuance in the format.

Chinese hotel company Huazhu Group has returned to the equity-linked market, raising $450m from a bond convertible into its American Depository Shares (ADS).

Chinese technology company Lenovo Group took advantage of improving sentiment and small new issue premiums on recent deals to reopen a dollar bond sold in April. It raised $350m from the tap on Thursday, but investor interest was quite muted.

A pair of investors in Chinese hotpot chain Haidilao International Holding sold a chunk of shares in the company on Wednesday, netting HK$1.56bn ($201.3m) from the trade.

China Petrochemical Corp (Sinopec) priced a $3bn bond through its curve on Wednesday after investors flocked to the triple-tranche transaction, leading to a peak book of $23bn.

The record-breaking pace of US corporate bond issuance shows no sign of abating as more than 20 issuers from across the ratings spectrum dashed out of earnings to issue this week, amid red-hot funding conditions.

Issuance in the financial institutions bond market had a preferred senior flavour this week, with issuers finding this the most cost-effective funding compared with other asset classes. In addition, some of them can use it to fulfil regulatory requirements.

Nordea Bank and Erste Group Bank were marketing preferred senior bonds on Wednesday, finding demand in the seven year part of the curve following a flurry of five year deals earlier this week.