HSBC

The sterling corporate bond market has been less busy year to date than it was in 2017. However, the property sector has continued to be one of the largest contributors of supply and, on Thursday, Grainger added its name to the list of issuers from the industry.

Australian property company Stockland was the first Australian issuer to sell a green bond in Europe in 2014. The company finally returned to the euro market on Thursday, but chose not to go with a green bond, on the same day as compatriot Ausgrid chose to price its new deal.

Turkish real estate developer Ronesans Gayrimenkul Yatirim has released initial price guidance on its benchmark five year bond, which a rival syndicate has called wide but a lead said was the pick-up investors are demanding over Turkish international corporates.

Vietnamese conglomerate Vingroup Joint Stock Company is seeking a $400m loan for its newly established car manufacturing business.

Several Chinese real estate companies, including Sunac China Holdings and Central China Real Estate, took advantage of relatively stable markets to ride the dollar issuance momentum this week. But supply pressure meant that many saw their bonds then trade under water.

Barclays Africa Group made full use of the positive momentum that followed fellow South African bank FirstRand’s dollar tier two to price its own deal with a lower yield, despite investors initially asking for a pick up over FirstRand.

After several weeks of focusing on conventional bonds in core currencies, SSAs popped back into the socially responsible investments (SRI) market this week. Nederlandse Waterschapsbank (NWB) is laying the ground for an affordable housing bond in euros, while the European Investment Bank found a solid reception for a Climate Awareness Bond that came in rare seven year dollar form.

Barclays Africa was on track to make it two South African tier two bonds in a week on Wednesday, and began pricing by offering a pick-up to rival FirstRand.

Turkish real estate developer Ronesans Gayrimenkul Yatirim is still assessing investor feedback and is yet to release initial price guidance, despite having told the market that it was looking to price its bond “as early as” Wednesday.

The Republic of Indonesia sealed an opportunistic dual-currency bond on Tuesday, quickly taking advantage of positive sentiment following a ratings upgrade from Moody’s.

Macquarie Capital has hired the former head of US loan trading at HSBC to help take advantage of surging activity in leveraged finance markets.

The European Investment Bank is set to plug a gap in its dollar Climate Awareness Bond curve after mandating banks on Tuesday for a June 2025 trade, opting for a rare seven year dollar bond.