HSBC

China Petrochemical Corp has bagged the largest G3 bond from a corporate in Asia so far this year, wrapping up a $3.4bn four-tranche transaction on Wednesday, taking advantage of a favourable market window.

Issuers from Greater China, including Yanzhou Coal Mining Company (Yancoal) and Regal Hotels International Holdings, have opened books for new perpetual notes, while China Oil and Gas Group has mandated firms for its return.

Three more IPOs reached successful conclusions on Tuesday and Wednesday, including the largest in Poland for over two years.

The dollar market was on spectacular form on Wednesday, with a Canadian province pushing out a rare 10 year bond, a supranational smashing its size record and a $4bn five year from a German agency.

Further dollar issuance from Argentina could emerge as early as today after two borrowers from the country wrapped up roadshows on Tuesday.

BMW Automotive Finance (China) Co is looking to launch its first auto loan asset-backed securities of the year, with bookbuilding for the Rmb4bn ($580.7m) Bavarian Sky China 2017-1 set to kick off on April 10.

China Petrochemical Corp was out for a 144A/Reg S transaction on Wednesday, eyeing multiple maturities, while high yield issuer Jingrui Holdings has returned to dollars after a two year hiatus.

Korea South-East Power Co (Kosep) opened books for a three year dollar bullet on Wednesday, following on the momentum from other issuers in the country.

Public sector borrowers are lining up a three pronged attack on Wednesday in a dollar market that is enjoying its widest swap spreads of the year. Quebec is attempting the first 10 year dollar benchmark since the first week of the year, KfW is out in fives — a part of the curve that has also become attractive in euros — and the Inter-American Development Bank is coming at the short end.

Saudi Arabia will begin meeting investors for its debut international sukuk on Sunday. The deal is a long time coming according to those keen to see the development of the Islamic finance market.

Inovyn, the chlorvinyls firm owned by chemicals group Ineos, and French food producer Labeyrie both joined the bond-to-loan refinancing trend in the leveraged finance market this week, holding a lender call and bank meeting respectively for term loan deals of at least €500m each.

Nine mandated lead arrangers and bookrunners have invited lenders to join the international loan market debut of Ant Financial subsidiary, Alipay (Hong Kong) Holding. The money will partly be used to support Ant’s bid to acquire MoneyGram.