HSBC
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A debut trade from Stark Group, the Nordic building materials supplier, gave high yield investors their first chance to invest in single-B rated bonds in about a month. The deal announcement arrived while market participants were still assessing the victory of Eurosceptic parties in the weekend's general election in Italy. -
Saudi Arabia has increased its loan from $10bn to $16bn as banks line up to join the facility, according to a statement from its Debt Management Office (DMO).
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China's SAIC-GMAC Automotive Finance wants to raise Rmb3bn ($473.7m) from an asset-backed securitization on Monday.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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The total issuance of investment grade corporate bonds in February was an underwhelming €14.8bn but the property sector has outshone all others in 2018 and this week was no different as investors had further diversification to consider.
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Six of the nine investment grade corporate new issues in the last week of February were announced with a three letter acronym that, while providing clarity, served to frustrate investors keen to see greater volumes of issuance. WNG stands for “will not grow” and this week told investors that the meagre sized deals would not be increased, irrespective of demand.
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State-owned holding company Investment Corp Dubai (ICD) is looking to refinance a loan maturing in June.
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Finnish residential property developer Kojamo and French care home operator Orpea added to the geographical diversity of the property company corporate bonds sold this week with a €500m seven year deal, while frequent issuer RCI Banque sold a dual tranche offering
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The Government of the Emirate of Sharjah has mandated five banks for a benchmark dollar sukuk — its first note in that market for over two years, though it did sell a Panda bond as recently as last month.
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Modern Land (China) Co sold its third green dollar bond on Tuesday, as it remains the only Chinese green issuer from the high yield property sector.
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Qatar National Bank and Bank of China kept the momentum going in the offshore renminbi bond market this week, with the latter’s Rmb4bn ($632m) deal the largest in nearly three years. Their success is an encouraging sign about appetite for the currency.
