HSBC

Petrochemical manufacturer Ineos on Monday launched a €1.1bn-equivalent refinancing deal into a high yield market that has thrown caution to the wind.

South Korea’s Kookmin Bank and Indian’s Glenmark Pharmaceuticals ventured out to the dollar debt market on Monday with their respective bonds.

The government of Sri Lanka’s $300m three year borrowing has received a chunky commitment in syndication, according to a source.

Real estate developer Greenland Hong Kong sold a highly popular bond on Thursday, in a move that highlighted investors’ lack of concern about the issuer’s high leverage.

China Railway Group raised $500m effortlessly from its first dollar bond in more than two years, taking advantage of its link to the central government and an issuer-friendly environment to price the new note through its existing curve.

Israeli-American pharmaceutical company Teva ripped through a severely undersupplied European corporate bond market this week, making savage price cuts on all three tranches of a €4bn trade that still ground tighter in secondary markets. Ross Lancaster reports.

Teva Pharmaceuticals had the corporate dollar market in its thrall this week as it took advantage of US corporate earnings blackouts to print a $15bn M&A blockbuster that attracted nearly $70bn worth of orders.

Canadian Imperial Bank of Commerce this week priced the first negative yielding non-Eurozone covered bond, with a well oversubscribed order book and a tiny new issue concession.

An attempted coup in Turkey last Friday threw its borrowers into a maelstrom of pulled bonds, credit rating uncertainty, and the country itself into a three month state of emergency. Unlike their loan market counterparts, bond and money market investors have been wary of calling the bottom of the resulting sell-off, but the damage is contained as EM bond inflows enjoyed another record week, writes Francesca Young.

The first sterling senior unsecured FIG deals to hit the market since the Brexit vote brought in astonishing demand, first for a blockbuster £1bn trade from Wells Fargo, followed by a bond from Bank of America Merrill Lynch that brought total sterling issuance to £1.75bn on the week.

Kazakhstani crude oil company Tengizchevroil (TCO) pulled in pricing 50bp from initial guidance on Wednesday to print its $1bn 2026s only 10bp over the Kazakhstan sovereign, according to a bookrunner on the deal.

The Asian loans teams at three banks have seen changes recently following exits in Hong Kong and Singapore.