HSBC

SSA issuers were out in the dollar market with $7bn of new bonds on Wednesday, though the biggest of the deals highlighted how price sensitive investors were in a world where some yield curves have inverted.

Louis Dreyfus Asia has boosted the size of its annual borrowing to $650m from $500m after receiving commitments from 31 lenders.

Europe's corporate bond market opened emphatically for business on Tuesday, as seven issuers banished all memories of the summer holiday. Despite there being plenty of choice for investors, demand was high across the board. Multiple deals were two to three times oversubscribed, while the largest, a €3.5bn four trancher from Siemens, the machinery maker, was nearly 4.5 times covered.

The dollar SSA market has started the short week on the front foot, with a trio of trades hitting screens on Tuesday.

HSBC France and Svenska Handelsbanken avoided issuing senior bonds at negative yields in a busy new issue market on Tuesday, but bankers said it was only a 'matter of time' before someone takes the plunge below 0% with an unsecured deal.

The UK Debt Management Office has announced that it is planning to reopen its 2054 Gilt through syndication in the week beginning September 9.

KBC only needed to offer a slim new issue premium to attract €2bn of demand for a new tier two bond this week. The deal pricing was squeezed by 20bp from initial price thoughts, resembling senior deals from other issuers.

China’s Joy City Property has returned to the loan market for an up to $800m facility.

South Korean conglomerate Lotte has filed documents for the IPO of a real estate investment trust (REIT), looking to raise up to W430bn ($353m).

Banks like Goldman Sachs have positioned corporate broking as part of a wider, integrated offering to clients — a strategy that appears to be the future of this traditional UK line of business, writes David Rothnie.

Yanlord Land Group offered a welcome bit of supply in Asia’s otherwise tepid bond market this week, breaking the silence to raise $400m from just its third dollar deal in eight years.

Emerging market consumer lender Home Credit will list on Hong Kong’s stock exchange in early October, despite political unrest-driven volatility that has scared off other issuers, according to a source close to the deal. Jonathan Breen reports.