HSBC

Greenland Global Investment brought to market on Wednesday the first bond with a cross border guarantee under China’s revised rules for the credit enhancement feature. The property company is offering a dual tranche five year and 10 year dollar deal.

China City Construction (International) unveiled its inaugural bond in international markets on Wednesday, offering investors a three year offshore renminbi deal.

Grupo Bimbo’s presence in the packaged bread market is so strong in parts of Latin America that when you want sandwich bread at a supermarket or café you ask for “pan Bimbo”. Based on Tuesday’s evidence, investors agree that Bimbo bonds are the best thing since someone thought to cut their loaves before selling them.

Construction group OAS and poultry company Globoaves are set to bring more Brazilian high yield supply after announcing initial price thoughts for dollar-denominated deals on Tuesday.

Bayer, the German chemicals and pharmaceuticals firm, will issue about €3bn of hybrid capital as early as tomorrow, as part of the financing for its takeover of Merck & Co’s consumer care business.

UK insurer Phoenix Group is set to hit the road on Wednesday ahead of a debut bond deal. With the pipeline quiet, bankers away from the trade welcomed the deal, though warned that the lack of a credit rating was likely to trigger discussion among investors.

Bankers have opened Zhongyu Gas Holdings’ $150m loan into syndication, pricing it at 313bp over dollar Libor.

United Arab Emirates bank Al Hilal has launched a $500m additional tier one perpetual sukuk at a yield of 5.5%, after twice tightening guidance from Monday’s 6% area initial price thoughts.

Chinese department store operator Springland International Holdings has launched a $250m three year term loan into syndication.

Korea Gas Corp (KoGas) priced its third dollar deal of the year on Monday, with the issuer attracting a wave of interest despite choosing an unconventional 12 year tenor. The new bond priced well inside the borrower's curve.

Greenland Global Investment is looking to become the first issuer to make use of China’s revised cross-border guarantee rules. Regulators recently made it easier for parent companies to guarantee offshore issuance, with the changes effective from June 1.

China Construction Bank (Asia) is back in the dollar market with its second deal in three months, opening books for a five year bond on Tuesday.