HSBC

Yunnan Provincial Energy Investment Group Co, a Chinese local government financing vehicle (LGFV), raised $600m on Tuesday from a dual-tranche deal that was nearly nine times covered.

KWG Property Holding raised $300m from a seven year non-call four bond on Tuesday, managing to pay a zero to negative new issue premium despite hitting the dollar market for the fourth time in 2017.

The world’s largest bread maker, Grupo Bimbo, returned to bond markets on Tuesday after a three year absence. Its 30 year bond was sold mainly to US investment grade buyers, despite the issuer’s Mexican nationality.

Public sector borrowers have crammed more dollar deals into Tuesday than are sometimes seen in a week. But far from suffering from too much choice, investors gobbled up everything on offer — and bankers expect them to do just the same for two deals on Wednesday’s menu.

Nederlandse Waterschapsbank (NWB) launched a four year green bond on Tuesday, pricing flat to its curve and clearing the way for Agence Française de Développement (AFD) to attempt to emulate the Dutch agency’s success.

On Tuesday, Spanish infrastructure operator Ferrovial tapped into demand for the enhanced yield offered by hybrid bonds and matched the second lowest coupon ever on such an instrument.

Emirates NBD turned heads with a new five year note offering 140bp area over mid-swaps on Tuesday. Investors said they were glad to take the extra spread on offer thanks to regional political tensions.

Hong Kong-based Far East Consortium International (FEC) and Chinese securities house Guotai Junan International Holdings both sold unrated bonds on Monday. While neither issuer saw overwhelming demand, they still managed to walk away with their desired $150m and $300m, respectively.

China Development Bank Corp (CDB) is gearing up for talks with fixed income investors for its inaugural offshore green bond, mandating firms for a dual-currency transaction.

Hong Kong’s fixed-line telecom operator WTT HK, better known as Wharf T&T, has mandated banks for a 144A/Reg S dollar deal, with a global roadshow kicking off in Hong Kong on Tuesday.

Chinese local government financing vehicle Yunnan Provincial Energy Investment Group Co and real estate developer KWG Property Holding are taking bids for their respective dollar bonds on Tuesday.

The European Financial Stability Facility (EFSF) announced on Monday that it would complete its 2017 funding programme with a pair of taps on Tuesday. Conditions in euros looked strong on Monday, as they allowed the Council of Auckland to pull its spread in by 7bp for its second ever euro deal.