HSBC

Nordea raised €1bn of new tier two funding on Wednesday, securing tight pricing in an asset class that has remained largely untouched in euros since the UK’s EU referendum.

The World Bank broke a 30 year silence in special drawing rights (SDR) bonds with the sale of the SDR500m ($700m) three year note in China on Wednesday. While the Mulan bond is widely seen as a symbolic gesture to promote the internationalisation of the renminbi, market participants said it is more than just that in spite of the relatively narrow investor base.

Qatar National Bank (QNB) hit the screens with the first benchmark trade from the Gulf Cooperation Council after the summer break on Wednesday, taking orders in excess of $2.4bn by 10am.

HSBC and Nordea looked to reopen euro issuance for FIG borrowers this week, as investors showed strong appetite for riskier and higher yielding debt after the summer period.

Just a day after DBS sealed a $750m deal from a Basel III compliant additional tier one note, the bank capital market has seen some fresh action with United Overseas Bank eyeing a tier two offering.

Two Chinese high yield names made their mark on Tuesday, with Road King Infrastructure bagging $500m and Haikou Meilan International Airport netting $200m from its first G3 bond offering.

Lanka Orix Leasing Company has tapped two banks to lead its debut offering in the international bond market. The Sri Lankan firm is set to hit the road from Thursday.

German chemical company Evonik hit the reopened European investment grade corporate bond market at pace on Tuesday, as it sought financing for its €3.5bn acquisition of US industrial gas provider Air Products’ speciality and coating additives business.

A trio of issuers on Tuesday mandated for dollar deals across the shorter end of the curve, as underlying US Treasury yields stayed slightly elevated after last Friday’s meeting of central bankers in Jackson Hole.

Municipality Finance will sell its debut green bond in dollars, rather than in euros as it previously intended, in order to secure cheaper funding.

HSBC Private Bank in the US has chosen a former EMEA DCM head at the group to lead its investment services and product solutions.

DNB Boligkreditt issued a larger than average euro benchmark 10 year covered bond on Tuesday at a spread that was arguably flat to its curve illustrating solid demand for non-Eurozone deals that still of a substantial pick-up to core markets.