HSBC

Export Development Canada and Erste Abwicklungsanstalt raised short term dollar debt on Wednesday as the market was buoyed by a dovish congressional testimony from the chair of the Federal Reserve.

The Federal State of Berlin chopped 2bp off the spread offered for its €500m 2039 bond during execution on Wednesday, as SSA investors remain hungry for long duration debt.

Chinese real estate companies Logan Property Holdings Co and Times China Holdings managed to aggressively tighten a pair of $400m four year callable bonds this week.

Haitong International Securities Group sold $700m of seven year notes on Tuesday, tightening pricing by 30bp during bookbuild.

Korea Gas Corp (KoGas) became the first South Korean corporate to sell 10 year sustainability bonds on Tuesday, raising $500m. The country’s issuers are leading the way across Asia in selling environmental, social and governance debt.

Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week, a banker said. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, and Export Development Canada and Erste Abwicklungsanstalt are set to follow.

DP World is embarking on a roadshow to market a new 10 year benchmark Reg S dollar sukuk. It is also considering long dated Reg S-only dollar funding.

Hong Kong-based Chong Hing Bank raised $400m from a Basel III-compliant additional tier one (AT1) transaction at a level that was, unsurprisingly, inside fair value.

Shimao Property Holdings and China Overseas Land and Investment took advantage of a strong market backdrop and renewed investor interest in duration to price seven and 10 year bonds, respectively.

Posco, the South Korean steel firm, has sold its first sustainability bond, raising $500m and attracting investors to its solid investment grade credentials.

Former Credit Suisse banker Jinzi Huang has joined HSBC as an associate director for structured finance and illiquid distribution.

Louis Dreyfus Asia has priced its $500m three year revolving credit facility at the same level as its last loan from 2018.