HSBC

Malaysia’s Cagamas Berhad kicked open the Tuesday market with the launch of a new dollar offering, while Saka Energi Indonesia announced its pursuit of a new dollar deal as well.

CCB Life Insurance Company on Wednesday sold a core tier two subordinated bond under China’s Risk-Oriented Solvency System (C-ROSS), becoming only the second issuer to do so. While the offshore market has seen increasing supply from Mainland insurers, the outlook for more core T2 issuance is unclear.

HSBC has lost its head of Singapore dollar bond origination, according to sources.

A surge in demand for Russian rouble paper could have been brought to a premature end by a US missile attack on Syria on April 7, but market participants are confident that issuance will continue.

The French presidential election saga has taken another twist, with far-right candidate Marine Le Pen’s chances slipping — but those of Jean-Luc Mélenchon, from the other extreme of the political spectrum, rising. Asian investors are pulling back from deals until the election hurdle is cleared, say issuers — but the rise of Mélenchon may also provide an earlier than expected relief rally.

French flooring firm Tarkett returned to the Schuldschein market on Tuesday and was welcomed by investors with open arms, achieving its tightest ever pricing as a surge of new buyers drive margins down.

Saudi Arabia’s $9bn sukuk was, for the second time, a staggering market debut from the sovereign. But size came at a price and the issuer paid up over its conventional curve, writes Virginia Furness.

Japanese lender Daiwa was the only borrower to hit the US market this week ahead of an expected uptick in issuance as big US banks emerge from earnings blackout.

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The euro high yield market closed the week before the Easter break in strong form, with bonds from Burger King France and Colfax, the US gas company.

China Huishan Dairy Holdings’ credentials have gone from bad to worse after it said on Monday that an event of default has been declared on its $200m loan, once again turning the spotlight on lending to non state-backed firms. While some bankers shrugged off the matter as a one off, others fear that getting lending approvals is set to become even more difficult. Shruti Chaturvedi reports.

Bank of China hit Asia's debt market hard on Tuesday, unleashing a huge deal spanning four currencies and six tranches. The $3.1bn-equivalent deal was designed to make a statement to the market that it should not forget China’s Belt and Road initiative, DCM bankers said. Morgan Davis and Addison Gong report.