HSBC

Chinese property company Agile Group Holdings’ new $500m bond tumbled in the secondary market on Wednesday after the firm took an aggressive approach to pricing.

Agence Française de Développement printed a €1bn tap on Tuesday, while Fondo de Amortisacion del Deficit Electrico (FADE) landed €1.2bn at five years.

Exxon Mobil Corp, the US oil major, launched €4.5bn of bonds on Tuesday to establish a euro curve for the first time. Parts of its dollar bonds came under selling pressure as investors looked to swap into the cheaper debt.

CNP Assurances and Helvetia Europe have added to issuance momentum in the insurance sector, giving investors the chance to put money into subordinated capital. The tier two bonds showed that ‘the market is back in shape’, said one deal arranger.

UniCredit opened books on Tuesday for what could be its last capital transaction of the year. The bank favoured the dollar market for its new tier two, having sold a senior transaction in euros only last week.

CLP Power Hong Kong has added $750m to its coffers from a dual-tranche bond, taking advantage of the hot demand for its subsidiary’s recent issue to attract investors.

Mapletree Industrial Trust is looking to raise at least S$350m ($251.5m) from an issue of primary units.

MicroPort Scientific Corp raised HK$1.55bn ($200m) on Monday after selling a chunk of new stock.

Electricity company Perusahaan Listrik Negara (PLN) rode on the coattails of the Indonesian sovereign’s dollar bond sale to raise $1.5bn this week.

Thai hospitality company Minor International (Mint) used a guarantee from Bangkok Bank to issue a $300m bond this week. The deal structure, which echoes its 2018 debut bond, helped quell investor concerns about how Covid-19 has ravaged the borrower’s business. Morgan Davis reports.

Exxon Mobil, the US oil major, is due to establish a bond curve in euros for the first time, as it continues building up cash as the hydrocarbons industry is pummelled by the coronavirus pandemic.

MTU Aero Engines, the German aeroplane engine maker, has mandated for its debut senior euro benchmark bond. The marketing process shows signs of a defensive approach, as the aviation industry has been ravaged by the coronavirus pandemic.