HSBC

A glut of short end dollar issuance this week is set to ramp up on Thursday, after a pair of rare names in the currency mandated on Wednesday. The trades will follow a strong showing from Finnvera after the Finnish agency — also an uncommon name in dollars — printed its largest ever trade in the currency.

Saudi Arabia is having a good week — finally allowing women to drive, albeit not until June 2018, and bookbuilding for a third jumbo international bond. But investors are praying the sovereign does not step on the accelerator too hard and leaves some spread on the table to ensure performance, after a poor week for EM new issues.

As the Belt and Road Initiative (BRI) opens up investment opportunities in emerging markets, it also exposes participants to high credit risks. But instead of seeking insurance coverage, some bankers are turning to securitization for an answer — a move that can lower risk and accelerate return on capital.

HSBC has hired a former Bank of America Merrill Lynch banker to its leveraged and acquisition finance team in Hong Kong.

Finnvera will on Wednesday enter a searing market for three year dollars, following a similar trade from Bank Nederlandse Gemeenten that rounded off the Dutch agency’s dollar benchmark funding for the year.

Tuesday proved to be hybrid day in the European corporate bond markets with Aroundtown tapping its dollar hybrid bond for €200m while German electric utility, RWE, announced it was tendering for up to €550m equivalent of its own equity-like debt.

US machinery manufacturer, John Deere, returned to the euro corporate bond market on Tuesday, selling its second deal in September. The €500m five year deal was issued by the company’s John Deere Bank entity.

Australian pallet and container provider Brambles must think good things come in threes. Having made euro investors wait three years for its last deal, in 2014, it finally returned to the single currency market on Tuesday, printing a deal with virtually no new issue premium.

Münchener Hypothekenbank made its public Swiss franc bond market debut, raising Sfr160m ($164.8m) with a December 2024 bond this week. But, with few German financial institutions with natural franc needs, the possibilities of follow-on trades are few and far between.

China’s Yuzhou Properties pulled off a $300m bond on Monday, navigating a choppy equities market that saw stock prices of many Hong Kong-listed developers plunge amid cooling measures from the Mainland regulators.

Nan Fung International Holdings managed to get the best of both worlds on Monday, finding the ideal price for its bond while also bagging a size within its target.

Hang Lung Properties is preparing its first Panda bond, aiming to raise Rmb2bn ($302.7m) from a three year note on the interbank market.