HSBC

Indian Railway Finance Corp postponed its dual-tranche dollar bond offering on Monday when faced with a volatile market backdrop that ‘bamboozled’ the banks running the deal.

APA Group, the Australian gas infrastructure company, has become the latest non-European company to mandate banks for an investment grade bond in euros, as debt bankers say calmer markets in the currency are proving a magnet to foreign issuers.

The European Stability Mechanism headed to the five year part of the euro curve on Monday to complete its first quarter funding target.

The European Union on Monday finally mandated the banks to lead its second Support to Mitigate Unemployment Risks in an Emergency (SURE) transaction of the year.

Rising oil prices will boost economic growth across the Middle East, possibly reducing reliance on capital markets funding. But the immediate concern for markets will be the path of interest rates.

Leeds Building Society is preparing to return to the sterling market this week for its first ever sale of non-preferred senior debt. The new bond will help the issuer refinance a euro deal maturing later this year, while reshaping its balance sheet for the minimum requirements for own funds and eligible liabilities (MREL).

Goldman Sachs led a bumper week of dollar bond supply this week, as the high-grade market showed its resilience and investors lapped up issuance from a broad array of bank and finance names.

Max Healthcare Institute, one of India’s largest hospital chain operators, is looking to raise up to Rp12bn ($164m) from a qualified institutional placement that was launched on Thursday.

Bank of Ireland’s inaugural green bond attracted the largest financial senior book in euros this week, peaking at €2.5bn, as it offered investors a chance to pick up labelled paper at a shorter tenor and with plenty of spread.

AusNet Services, the Australian power networks company, and Italian power company Enel earned rapturous responses from investors for euro hybrid capital bond issues this week, even though the trades followed a sell-off in riskier assets.

On Wednesday, the Emirate of Sharjah sold a $1.25bn dual tranche bond. Though the issuer conceded that market conditions were not "perfect", given sustained volatility in US Treasuries, this week’s deal allowed the state to extend its credit curve.

Europe and the US have a crucial role to play in the bank’s expansion plans for Asia, writes David Rothnie.