HSBC

South Korea’s Nonghyup Bank made a rapid return to the offshore bond market on July 15. Having learned lessons from its reduced outing last year, the Korean lender shuffled its banks and opted to raise just $300m. More importantly, bankers believe this deal could act as price guidance for Kookmin’s upcoming covered bonds.

An unwelcome slump in deal activity comes just as banks are getting back on the front foot, writes David Rothnie.

Aéroports de Paris reopened the corporate bond market on Wednesday after two weeks' silence, using an attractive new issue premium to amass a €5bn order book for the €500m deal.

The European Stability Mechanism has sent out a request for proposals for a euro benchmark — and could ape the European Union, which brought a five year on Wednesday, said public sector bankers.

Korea National Oil Corp (KNOC) has announced a series of investor meetings in Asia, Europe and US as it gears up for the first offshore bond of 2015.

The future of Greece as a eurozone country was hanging in the balance on Wednesday — all but shutting down the euro benchmark market for public sector borrowers.

CVC-sponsored Asia Education Investment is in the market for a $165m triple tranche facility, part of which will be used to recapitalise the major shareholder.

Tianjin Binhai New Area Construction & Investment Group Co and Nonghyup Bank braved volatile market conditions to open books for their respective US dollar bonds on Wednesday, as the world waits for signs of a concrete debt restructuring deal from Greece.

The first dollar bond to emerge from China following the Greek debt agreement proved to be a hit with Shanghai Construction attracting an eight times covered book for a $400m offering.

Asia’s primary debt capital market was crowded on July 14 as opportunistic issuers rushed out to take advantage of a favourable, but perhaps short, issuance window. Korea Gas Corp (KoGas) was among the throng.

Sinochem Hong Kong has wound up its $500m bullet with a syndicate of 28 lenders, including 24 that came in during general. What some market participants had called thin pricing did not prevent oversubscription, signalling that three year liquidity is readily available to top tier China names at all-ins of below 120bp.

No sooner had the first tentative signs appeared of an agreement over Greece's debt crisis than the Asia ex-Japan primary debt capital markets finally woke up to some action from a trio of deals.