HSBC

Auckland Council on Thursday pulled off a 7bp tightening for its first ever public deal in euros. The trade was joined in the market by paper from the City of Hamburg and Bpifrance Financement.

As many as eight covered bonds were launched across three currencies this week, the vaguely discernible pattern suggesting better interest for the larger deals with intermediate maturities and particularly those from non-eurozone issuers where liquidity is most likely to be better.

The sterling high yield bond market on Thursday sent a message of confidence to issuers as UK telecoms firm TalkTalk increased its £300m unsecured bond on the back of heavy demand.

Barratt Developments, the UK home builder, has lengthened the tenor of a revolving credit facility by two years.

Corporates from Hong Kong, China and Singapore were clamouring for investors’ attention on Thursday for their respective offerings.

The Republic of Korea is set to be the first Asian sovereign to sell bonds in the New Year, marketing a dollar-denominated 10 year on Thursday morning.

Export Development Canada showed on Wednesday that despite some big deals this year in fives, there is still plenty of demand in the three year part of the dollar curve as it took the rare step of increasing a deal from its initial size target. The trade came as a trio of other dollar deals hit screens.

Agence Française de Développement made its 2017 debut with a €1.5bn five year on Wednesday, but longer dated euro deals seem to be struggling as European Investment Bank found with a April 2032 tap.

Portugal took out around a fifth of its funding programme for 2017 on Wednesday, printing a €3bn 10 year deal. Bankers away from the trade said pricing looked a little cheap — but at the same time defended the sovereign’s debt office for playing it safe to win size.

Gas Natural Fenosa, the Spanish energy firm, kept the long end alive on Wednesday as it issued a €1bn 10 year bond that won over two times oversubscription.

New World Development Company, via its wholly-owned subsidiary New World China Land, sold a $600m 10 year bond on Tuesday, the first time it had opted for such a long tenor, according to bankers.

A group of seven lenders opened a $600m loan for State Bank of India to retail participation this week, with three tickets up for grabs.