HSBC

DP World shook off turbulent markets on Tuesday to take a $3bn book for its $500m trade. While the borrower may have been pushed to issue to avoid blackout, pricing still came inside the borrower’s existing curve.

China General Nuclear Power Corp (CGNPC) managed to price a $600m 10 year deal this week, despite launching with a fairly aggressive price guidance. Investors were undeterred by the tactic which allowed the borrower to price inside fair value.

Weak German GDP figures helped drive a bid for Bunds on Wednesday morning, bringing a degree of stability after two weeks of volatility in eurozone government bonds.

Agile Property Holdings this week overcame a busy market and some residual wariness about Chinese high yield property credits to price its first deal in over a year.

Volkswagen is bringing its second Chinese auto ABS transaction, issuing an investor presentation for a deal that is more than twice the size of last year's debut. The new Rmb1.89bn ($305m) deal, called Driver China Two, is again set to feature ratings from Fitch and Moody's in a bid to attact international interest in what is still a fledgling asset class for China.

A pair of highly rated SSAs are set to dip into dollars on Wednesday, after two issuers had contrasting fortunes in the market on Tuesday.

KfW drew strong central bank interest for a sterling tap on Tuesday, becoming the first SSA to print in the currency since last week’s UK general election.

The European Financial Stability Facility took several SSA bankers by surprise on Tuesday, when it mandated for a 30 year tap in an unstable euro market.

Tennet, the Dutch government-owned electricity transmission system operator, has mandated banks for its first green bond and will travel to meet investors next week.

National Bank of Oman is planning a $900m increase to its euro medium term note programme and has won approval for a debut AT1 issue.

Greece’s fudged payment to the IMF and a resumed rates sell-off has bankers already writing the week off in euros, but Pohjola Bank has shown issuers an escape route in sterling.

DP World’s $500m no-grow five year bond is already seven times subscribed. Price guidance has been tightened to 160bp over mid-swaps, plus or minus 5bp.