HSBC

The Asian Development Bank joined the syndicated sterling issuance run started by the European Investment Bank earlier this week, pricing a £300m tap of its March 2024 Sonia-linked note on Wednesday. The World Bank looks set to follow with a fixed rate tap on Thursday that bankers feel could give a good indication of the market’s appetite for the format amid volatility.

FWD Group has come to the market with yet another unusual transaction, raising $600m but seeing the bond open a whole point lower in the secondary market on Wednesday morning.

KfW won huge praise from on-looking bankers for a curve extending and rare 10 year dollar green bond on Tuesday. The Inter-American Development Bank (IADB) and Österreichische Kontrollbank (OeKB) also enjoyed success in the dollar primary market with three year trades, with the former selling its debut Sofr-linked floating rate note.

Swiss medical firm Lonza has refinanced its term debt and revolving credit facilities, in dollars, euros and Swiss francs.

Rothesay Life chose a quieter day in UK politics to issue a tier two in the sterling market on Tuesday. It also took advantage of the lack of supply in the currency and the deal was oversubscribed four times its £400m size.

MTU Aero Engines, the German maker of aircraft engines, has issued a €515m convertible bond before being promoted to Germany’s Dax benchmark index later this month.

ANZ New Zealand was well received after opting for a longer maturity on its return to the euro senior market this week, welcoming €1.2bn of orders for its €500m 10 year.

Chinese real estate developer Longfor Group Holdings raised $850m from a 10 year bond on Monday, taking advantage of a recent ratings upgrade that led to a rally in its secondary price.

Industrial and Commercial Bank of China has priced $3.15bn of green bonds in US dollars, Hong Kong dollars and offshore renminbi (CNH), achieving a number of firsts in the process.

Corporate bond issuers made full use of the last few days before the European Central Bank's much-anticipated announcement on monetary policy on Thursday. Despite the hectic activity of the past two weeks, investors were still oversubscribing deals two or three times.

KfW mandated banks for its longest ever dollar green bond on Monday, while the Inter-American Development Bank is taking indications of interest for its inaugural Sofr-linked floating rate note.

De Volksbank was three times subscribed for its debut green bond this week, despite not offering much in the way of yield or new issue premium to its investors.