HSBC

Asian issuers flooded into the debt market on Tuesday, as seven credits battled for attention amid a somewhat positive tone in the market. Greenland Hong Kong Holdings grabbed $200m, while China Gold International Resources Corp nailed a $500m three year and Shimao Property Holdings sealed a tap.

Korea Development Bank (KDB) added a dash of variety to Asia’s green market on Tuesday with its inaugural $300m deal, finding support from a combination of dedicated green funds, as well as conventional investors. Typical of issuers from South Korea, the policy bank did not pay any new issue premium for its fundraising.

Euro conditions are excellent for public sector borrowers, with Spain pulling in a nearly €30bn book for an €8bn 10 year — which bankers away from the trade said indicated a high presence of quality investors — and KfW raising €5bn after picking a seven year deal over a shorter tenor. Another pair of issuers are now looking to take advantage.

On Tuesday, Gecina, the French property company, latched onto the latest trend for issuance in the multi-tranche European corporate bond. The triple tranche €1.5bn deal will be used to refinance part of the bridge facility used by Gecina to acquire Eurosic.

NetLink Trust has kicked off bookbuilding for its up to S$2.7bn ($1.9bn) IPO, set to be Singapore’s largest listing in half a decade, according to a source close to the trade.

The Indian Renewable Energy Development Agency (Ireda) has been forced to hold off on its plans to sell a green Masala bond due to new regulatory approval requirements.

China’s Baidu is readying a dual-tranche dollar bond offering, mandating banks for the deal, while Melco Resorts Finance opened a tap of its May notes on Tuesday.

Greenland Hong Kong Holdings returned to the market on Tuesday for the second time in as many weeks, as Shandong Ruyi Technology Group Co and Hong Kong conglomerate Swire Pacific also launched dollar deals.

Korea Development Bank is venturing out to the green financing market, launching a dollar bond at the Asia open on Tuesday.

Daimler was the only company to issue a new bond in the European market on Monday, but it brought a huge, €4bn deal. And it maintained the recent trend for pushing out to longer maturities.

The euro market for public sector borrowers looks set to kick back into action after a quiet last week, with a pair of big borrowers mandating for trades to come on Tuesday.

Lonza launched a €300m Schuldschein on Monday. The Swiss medical firm’s debut Schuldschein comes denominated in dollars and euros in a bid to, among other things, attract southeast Asian lenders, with natural dollar lending needs.