HSBC

Brazilian conglomerate Votorantim Industrial will reduce its debt by $880m after completing a tender offer for its 2019 bonds and 2021 notes issued by its subsidiary Companhia Brasileira de Aluminio.

Yapi Kredi Bank will continue to find demand for its private placements, despite being downgraded by Moody’s on March 28, according to medium term note bankers.

Svenska Handelsbanken mandated banks for a five year Kangaroo bond on Monday, the first senior unsecured deal in the format from a Scandinavian bank.

Sri Lanka’s National Development Bank has obtained loans worth $125m, backed by International Finance Corp, as it seeks to expand access to finance for small and medium enterprises.

Abu Dhabi investment firm Waha Capital has overcome some lenders' concerns about financing a holding company to smash through its refinancing target by signing a $750m five year loan.

China’s Dongfeng Motor Corp, which said in February that it was acquiring a 14% stake in French company Peugeot Citroën, is expected to sign a €830m ($1.14bn) club loan this week, according to a banker.

Pertamina will be meeting with investors following the recent update of its $10bn global MTN programme.

Several well oversubscribed, dollar denominated deals proved the bullish predictions of DCM bankers right as investors sought yield in a region that has been light on new issuance.

The European corporate bond market had already seen plenty of fireworks by Wednesday but there was no let-up on Thursday.

Bank of Nova Scotia’s inaugural legislative covered bond, issued this week, is unlikely to offer much performance and is not eligible for bank liquidity buffers, but it offered genuine diversification to a hungry market. At 9bp the deal was priced on the tight side of expectations with little scope for performance.

Citigroup, HSBC, RBS Citizens and Santander USA have failed stress tests, and face having to resubmit capital plans, after the US Federal Reserve failed them for stress tests.

The second visit by a non-European supranational to the euro benchmark market since the euro/dollar basis swap neared parity late last year could encourage its peers to print in the currency over the coming weeks. The Asian Development Bank’s debut euro benchmark this week offered more enticing pricing than when the World Bank opened the market late last year — but by printing a larger deal, it was equally if not more impressive in many bankers’ eyes.