HSBC

Abengoa, the Spanish construction and concessions company, has made a further step to capital markets rehabilitation, by issuing a $279m exchangeable bond, into shares of its affiliate Abengoa Yield.

Property developer Country Garden Holdings has made a dash for the dollar market, pricing a 5NC3 bond one day after the end of the Chinese New Year holidays. The timing worked out well for the issuer, as the lack of competing supply meant it was able to generate a more than five times covered order book to print a $900m bond.

The Coca-Cola Company priced its biggest ever bond on Thursday, all in euros. It was the second biggest European corporate bond ever, and extended the issuer’s euro curve by 8.5 years.

The Coca-Cola Company priced its biggest ever bond on Thursday, all in euros. It was the second biggest European corporate bond ever, and extended the issuer’s euro curve by 8.5 years.

Borrowers partied in dollars this week as a lack of supply and an attractive euro/dollar basis swap combined to allow them to print at attractive levels at the short end.

A trio of issuers took advantage of a lack of senior supply this week to price deals with drastically reduced new issue premiums compared to January.

Cemex is on track to issue the first high yield corporate bond from Mexico this year and has returned to the market with a dual tranche euro and dollar offering.

Goldman Sachs is set to list the longest tenor Formosa bond on March 3. The Rmb525m ($84m) 12 year deal, which had a formal pricing date of February 3 but was conducted with very little fanfare and has only just come to the attention of market participants, is also notable for being a zero coupon issue.

India’s Reliance Utilities and Power is tapping the offshore market for a $225m seven year senior secured term loan. The deal, which is now in general syndication, has one bank as the lead.

Real estate developer Country Garden Holdings is looking to become the first out of Asia ex-Japan issuer to tap the debt market following the end of the Chinese New Year holidays, opening books to a five year non call three transaction on February 26.

Abengoa, the Spanish engineering, construction and concessions company, is making a fresh move to cut its debt by reducing its shareholding in Abengoa Yield from 51% to 40%.

Intesa Sanpaolo drew a bumper book for a seven year senior print on Wednesday, highlighting the strong bid for an asset class that has seen minimal supply in February.