HSBC

A pair of core eurozone agencies are set to dip into the short end of the dollar curve on Tuesday, but more issuance could come further out the curve.

J Sainsbury, the UK supermarket chain, has refinanced a trolley of loans, removing covenants and securing the loans on its properties, after announcing its worst earnings for a decade last week.

DP World, the Dubai-based global container ports operator, has released price guidance for a dollar benchmark five year bond at 180bp over mid-swaps.

Mexican peso issuance levels could rise if the euro's volatility stays at levels it hit last week, said syndicate bankers, as World Bank tapped the currency with a private green bond.

Sinochem Hong Kong has chosen four banks to lead its $500m refinancing loan, with the banks planning to widen the syndicate in the near future.

Korea Development Bank (KDB) is out in the international debt market this week, hoping to receive better reception than its last dollar bond in September 2014.

The Asia ex-Japan convertible bond market is finally seeing some action following a subdued start to 2015 thanks to United Microelectronics Corporation (UMC), which opened books to a $600m currency-linked CB on May 11.

Indonesian tower company Solusi Tunas Pratama’s latest borrowing has received $185m in commitments. The deal, which will refinance what is left of a bridge it sealed with five banks in December last year, is due to close imminently.

China Merchants Bank (CMB) New York branch scored an international bond market debut on May 7, receiving strong support from Asian investors but leaving enough money on the table to embrace the price demands of US investors. The borrower is the first of a string of Chinese banks lining up to sell bonds through their US branches.

Swiss cement maker Holcim is in a stand-off with its relationship banks over whether it can receive negative interest payments on its Swiss franc revolving credit facility, amid deeply negative interest rates, writes Elly Whittaker.

Execution risk has been pushed sky high in bank capital after NordLB, a German bank, was forced to pull an additional tier one print on Thursday, writes Tom Porter.

Colgate-Palmolive took advantage of strong demand for floating rate notes on Thursday to price a €500m four year FRN, arguably inside where it could have issued a fixed rate bond.