Goldman Sachs

Korea Development Bank has raised $1bn from a dual-tranche bond that came inside its secondary curve, as investors flocked to high quality, investment grade rated credits.

A strong start to the year for public sector dollar issuance is keeping up the pace so far this week, with last week’s slowdown during the Chinese New Year holidays only appearing to make investors hungrier. Both of Tuesday’s dollar deals were well oversubscribed — one spectacularly so — and there is a full card of issuers waiting to come on Wednesday.

The European Financial Stability Facility completed its funding for the first quarter with a dual tranche offering on Tuesday, which was priced with minimal concession, according to the leads.

Latvia came to market on Tuesday morning for a 30 year euro benchmark, reawakening a dormant Central and Eastern European bond market.

Chinese real estate companies Zhenro Properties and China Aoyuan Group reopened the Asian offshore bond market with a bang, as cash rich investors flocked to their transactions.

Nikko Asset Management said it had hired Richard Kehoe as senior high yield analyst for its global fixed income team in London.

Banks have started marketing the sterling loan to fund the acquisition of a stake in Westbury Street Holdings, the parent company of Searcy’s champagne bars and Benugo coffee bars, with a £363m seven year term loan and a £91m eight year second lien on offer.

The Netherlands Development Finance Company (FMO) and the Bank of England hit screens with dollar mandates on Monday to start what should be a busy week of supply in the currency for public sector borrowers, according to bankers.

The European Financial Stability Facility mandated banks on Monday for a long five year and a tap of its February 2043 bond.

The Republic of Latvia hit screens on Monday to announce a 30 year euro benchmark — breathing life back into what has been a rather quiet Central and Eastern European bond market.

Chinese property issuers led the reopening of Asia’s offshore bond market following a week-long holiday in the Mainland to celebrate the Lunar New Year. Investors responded to the new deals with enthusiasm.

Pinduoduo, a Nasdaq-listed Chinese e-commerce company, has raised $1.38bn from a follow-on offering.