HSBC

Indian renewables company ReNew Power took home $300m from a bond that appealed to a niche, but captive, investor base.

Six Greater China borrowers, including Industrial and Commercial Bank of China (Macau) and an unrated property developer, have wooed bond investors to their new dollar deals.

China’s Youyuan International Holdings, a wrapping tissue paper maker, has defaulted on a total of HK$2.6bn ($332m) of debt, including a $135m loan sealed in April.

Rating: Aa1//AAA

The frenzy of investment grade corporate bond issuance in Europe intensified on Thursday, when eight companies came to market, issuing a total of €6.6bn of paper in euros. That brought the total for the first four days of this week to over €20bn. Despite the heavy supply, issuers have found sufficient demand to support their notes.

The dollar SSA market saw a clear schism this week between the maturities investors favour, with shorter end trades tightening pricing while longer maturity deals were forced to print in line with initial price thoughts.

HSBC Canada this week issued a larger covered bond and with a higher subscription ratio than it managed on its inaugural deal, reflecting that its marketing efforts had “really resonated with investors”, according to the bank’s head of balance sheet management, Marty Halpin.

African Export-Import Bank has mandated banks for a Reg S/144A dollar five to 10 year bond with a deal that could be twice as long as its last outing. It well test investor appetite for the deal next week.

Equity capital markets are abuzz in Hong Kong as issuers rush to take advantage of the first window to list since business closed for the summer. Among them, consumer finance company Home Credit and China’s Bank of Guizhou are each targeting $1bn listings.

China’s Xtep International Holdings and Suning Financial Services have closed their respective offshore borrowings.

Österreichische Kontrollbank (OeKB), Austria’s export credit agency, will go on roadshow next week to present its recently established sustainability bond framework to European investors. An inaugural bond in the format is expected to follow.

CCB Leasing added $300m to its 3.5% 2024 bonds on Wednesday, taking the total size of the transaction to $800m.