HSBC

South Korean heavy industry company Doosan Infracore Co sold a $300m three year bond on Tuesday, helped along by a guarantee from Korea Development Bank.

Singapore’s Temasek Financial, part of the government investment firm Temasek Holdings, is headed to the euro bond market, as low spreads continue to draw international borrowers.

The Netherlands’ Tennet Holding has increased the size of its bank revolving credit facility to €3bn and linked the margin to sustainability goals, in a deal the electricity transmission system operator says is the largest sustainability-linked revolver in the Benelux region.

Intesa Sanpaolo and Landesbank Hessen-Thüringen (Helaba) gave investors the chance to put money into preferred senior paper on Tuesday. Both trades attracted chunky order books and gave away a small new issue premium.

Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.

BMW Auto Finance (China) has wrapped up its last foray of the year into the Chinese auto loan ABS market with a tightly priced deal. A diverse group of investors took up the senior tranche of the Rmb8bn ($1.14bn) trade, said bankers.

State Bank of India is looking to raise about Rp80bn ($1.1bn) by selling a minority stake in SBI Cards’ planned jumbo IPO, according to a banker on the mandate.

The UK Debt Management Office has chosen the banks to lead the re-opening of its 0.125% 2041 index-linked Gilt, which is scheduled to take place next week.

Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling.

Chinese government-owned Beijing Capital Group Co sold a $500m perpetual deal on Thursday, just a couple of weeks ahead of the scheduled call date of an old bond by its real estate arm.

Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have launched a $500m loan into general syndication, after one bank joined at the senior stage.

KfW made a simple but potentially significant step in the evolution of bond markets this week as it became the first borrower to highlight its environmental, social and governance (ESG) ratings in term sheets for a bond issue, from the mandate announcement to the final pricing details. SSA bankers and issuers have applauded the move and other public sector borrowers are looking to follow, writes Burhan Khadbai.