HSBC

Singapore-based agricultural and commodities firm Olam International added variety to the debt market this week with a $300m bond that had an unusual tenor, as analysts were left divided over the final pricing.

The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.

Travel services provider Hotelbeds has increased its €172.5m term loan add-on to €200m, also cutting the margin guidance from 625bp to 500bp with a 0% floor.

Hong Kong-listed Singamas Container Holdings has reached out to lenders for a $250m borrowing with one bank at the helm. Although the company posted a loss for the six months to June 30, 2016, its strong balance sheet due to low debt is expected to see the deal through, said bankers.

Beijing Properties (Holdings), China Everbright Bank and Olam International were vying for investors’ attention on Wednesday in what is a busy week for dollar issuance in Asia ex-Japan.

KfW and the European Bank for Reconstruction and Development took full advantage of a strong environment to sell dollar benchmarks on Tuesday. Further dollar issuance is rumoured this week — with conditions so good that deals may come despite potential volatility from US president Donald Trump making his first speech to Congress during the New York evening on Tuesday night.

Sustainability bonds are the flavour of the week for regional issuers, as the State of North Rhine-Westphalia smashed the size record for sub-sovereign SRI bonds on Tuesday and Île-de-France hit screens to announce its own socially responsible investment bond.

South Korea’s Hyundai Capital Services timed its $600m outing well, thriving on its strong name recognition and the variety it added to the debt market to put together a fairly priced deal.

China Development Bank became the latest name to take advantage of a liquidity-abundant market, snapping up $3bn-equivalent from three floating rate tranches in two currencies — in one of the largest FRN trades out of Asia.

UniCredit, the largest bank in Italy, has formally finished its €13bn rights issue after selling the unexercised rights on the market for €15m.

The public sector dollar market is showing a few signs of life this week as KfW and the European Bank for Reconstruction and Development picked banks for benchmarks, while the Bank of England launched its annual foray in the currency.

Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.