HSBC

Singaporean issuers in the dollar market are rare enough for investors, but those with a guarantee from the triple-A rated government are ever more unusual. Clifford Capital made the most of that rarity value this week, raising $300m from a government-guaranteed deal.

Bank Muscat, Oman’s largest bank by assets and capital, has named leads for a five year dollar note.

Slovenia printed €1.25bn by way of a triple tranche euro bond tap on Wednesday from a book of €4bn, paying small new issue premiums. Marjan Divjak, director general in Slovenia’s Ministry of Finance, said that the country is “more or less done” in the international bond markets for the year.

The European Bank for Reconstruction and Development set a new pricing bar for 2018 in five year dollars on Wednesday as it equalled its largest ever dollar benchmark size. Municipality Finance was also out in the same tenor, with a trade that leads said had a concession of 2bp-3bp.

French commercial property company Carmila returned to the investment grade bond market after two years away and received a positive response from investors for its longest maturity to date.

Before 2017, US crowd services provider Equinix had not issued a bond in euros. But it has now visited the European high yield market three times, having completed its latest deal on Wednesday.

Books for the Republic of Slovenia’s triple tranche euro bond tap were in excess of €3.6bn by lunchtime on Wednesday, with final spreads having been set for each clip. The deal is part of a liability management exercise that swaps out short dated dollar debt for longer euro denominated paper.

The Islamic Development Bank (IsDB) has mandated eight banks to roadshow a benchmark five year Reg S sukuk with a view to adding a 10 year tranche as well.

Four of the six deals in the primary market in Asia on Tuesday were from Chinese real estate companies. But despite the inevitable competitive dynamics between the trades, Modern Land (China) Co, Yuzhou Properties Company, Guorui Properties and Tahoe Group Co were all able to meet their targets.

Hong Kong-listed LK Technology Holdings has divvied up its latest borrowing among 14 lenders.

Bank of China Macau has approached lenders for a financing of up to $500m, with details about the loan going to a limited number of banks, said sources.

FMS Wertmanagement on Tuesday took advantage of widening swap spreads to equal the tightest spread to mid-swaps on a five year benchmark so far this year — a level that was “very tight” to KfW, said bankers on the trade. Two other borrowers are lining up to try their luck in the tenor — including one that is aiming for an even tighter spread.