HSBC
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The primary euro public sector bond market continued its busy week on Thursday with KfW and KommuneKredit issuing new 10 and 20 year deals, respectively. -
Korea Expressway Corp made its debut in the Kangaroo market this week, taking A$450m ($324.6m) from a dual tranche deal.
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The State of North Rhine-Westphalia and Nederlandse Waterschapsbank rebooted the long of the euro SSA curve on Wednesday with well subscribed deals and minimal new issue premiums.
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Masraf Al Rayan, one of the largest Islamic banks in Qatar, was out on Wednesday with its second international sukuk. The deal is also the second from CEEMEA to hit the market following the brief summer lull.
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US insurance company Athene Holding this week sold its second funding agreement-backed security (Fabs) in euros, just a couple of months after making its debut in the currency.
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Activity in the financial institutions bond market has picked up this week after a long pause in euro supply. Danske Bank and Belfius Bank were among the names looking to capitalise on the improving market conditions on Wednesday.
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Road King Infrastructure found strong support for its high yield dollar deal on Tuesday, gathering $2bn of orders for a $300m transaction.
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The State of North Rhine-Westphalia and Nederlandse Waterschapsbank will be the first two public sector borrowers to test investors’ appetite for euro deals in the long end of the curve following the summer break.
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South Korea telecommunications operator KT Corp broke a three-year hiatus from the bond market on Monday to raise $400m.
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Oryx Stainless Group, a Dutch stainless steel company, has signed an €80m syndicated loan, refinancing a larger deal and moving some of its borrowing into Thai baht, in a rare secured borrowing base facility in the southeast Asian country.
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Investors are still keen to buy bonds from Hong Kong corporations, with their interest reflected in the solid support for deals from Hongkong Electric Co and Nan Fung International Holdings on Thursday.
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Phoenix Mills, an Indian retail mall developer and operator, bagged Rp11bn ($146.7m) in fresh equity this week from a qualified institutional placement.
