HSBC

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.

Heineken used the quieter end of the week in terms of issuance to price its second benchmark corporate bond issue of the year. The sixth benchmark issue of the year in Europe by a beer producer was the only deal in the market on Friday.

Saudi Arabia will return to the international capital markets this year and has named leads for a triple tranche conventional bond.

HSBC has appointed Joseph Incalcaterra as its chief economist for ASEAN, a newly created position at the bank.

Industrial and Commercial Bank of China is jumping on the green bandwagon, hiring firms to work on its inaugural green deal denominated in dollars and euros, to be sold through its Luxembourg branch.

Chinese steel company Shougang Group Co is returning to the dollar debt market with a new five year bond, while Yuzhou Properties Company is drumming up interest for its debut senior perpetual transaction.