HSBC

REC became the first Indian issuer in two months to hit the international bond market, raising $500m on Tuesday. While the deal was a success, it also shed some light on the restrictions and challenges being faced by the country’s issuers amid the Covid-19 pandemic.

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.

Santander has hired António Simões from HSBC as its regional head of Europe.

Europe’s high grade corporate bond market pumped out deals on Tuesday, with some defensive issuers managing to print inside fair value while some of the day’s more esoteric picks had to pay up even for short maturity debt.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.

Chinese battery maker Leoch International Technology has returned to the loan market for a $100m refinancing.

Mining company Indonesia Asahan Aluminium (Inalum) battled weakening fundamentals and financial troubles at its state-owned peers to raise $2.5bn from a triple-tranche bond on Monday.

Santander has surged to the front rank of the EMEA syndicated loan market since the coronavirus crisis began — the bank made a deliberate strategic push.

Five public sector borrowers are marketing dollar bonds across the curve kicking off what it is expected to be a busy week in the currency.

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.

The lure of prestigious, fee-paying Bund syndications has driven banks to up their bids in Germany’s auctions, driving up the bid to cover ratio on its auctions and bringing down the sovereign’s cost of funds.

Asian Infrastructure Investment Bank is preparing to issue a global sustainable development bond as early as next week to finance its newly created Crisis Recovery Facility aimed at mitigating the economic impact of the coronavirus pandemic.