HSBC

The European Investment Bank raised €3bn with a December 2023 EARN on Wednesday, coming hot on the heels of Austria's €7.5bn dual tranche, but the flow of euro deals appears to be abating with no borrowers hitting screens for Thursday.

Since the market returned from its summer break, no corporate bond issuer had printed a new deal with a tenor longer than 12 years. However, that changed on Wednesday when French water and waste company, Suez Environnement pushed through to 15 years with a €500m trade.

Kingdom of Bahrain drew orders of $15bn for its $3bn triple-tranche trade on Wednesday, having crushed the chunky new issue concession at price talk by as much as 50bp.

If there was any doubt that EM investors have plenty of cash to put to work, Turkey’s Coca-Cola Icecek (CCI) laid it to rest this week with a $500m deal that tightened 40bp from price talk and then rallied 20bp in the secondary market.

Sino-Ocean Group Holdings leveraged on its stronger sales performance and credit metrics to storm into the debt market on Tuesday, showing that it has put a short but tumultuous period behind it.

CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

South Korea’s Shinhan Bank is set for a new Basel III tier two dollar bond, as it markets a transaction that mirrors its debut 18 months ago.

Three borrowers came to market for dollar paper on Tuesday and another hit screens announcing a transaction on Wednesday, as bankers reported strong conditions in the currency.

Austria has become the first eurozone sovereign to syndicate a 100 year bond, selling €3.5bn to investors desperate to pile cash into ultra-long paper.

HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.

BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers.

Sino-Ocean Group Holdings began marketing a new subordinated deal on Tuesday morning, returning to the dollar bond market after a gap of more than two years.