ING

Chinese issuers are storming the debt market this week, with Tuesday seeing the Export-Import Bank of China (Chexim), Shanghai Commercial Bank and Oceanwide Holdings Co among the borrowers enticing investors.

China State Construction International Holdings and Shenzhen International Holdings are taking bids for dollar bonds, while Yiwu State-owned Capital Operation Co has mandated banks for a Reg S deal. On the other hand, Lifestyle International Holdings has decided not to pursue its fundraising for the time being.

The Export-Import Bank of China (Chexim) is holding investor calls on Monday for its third offshore transaction of 2017, opting again for a combination of dollars and euros, and possibly its first 30 year dollar bond.

French toll road operator Holding d'Infrastructures de Transport paid a hefty premium on Friday as it sold a dual tranche bond to help refinance its March 2018 note.

The supply of hybrid bonds continued this week, with an additional feature — both hybrids sold this week were certified as green bonds.

UK pest control company Rentokil launched its €400m seven year offering on Thursday morning, alongside two three year offerings from the utility and car leasing sectors.

Central and eastern European real estate giant Nepi opened books on its first deal as newly formed Nepi Rockcastle on Thursday morning.

Shenzhen International Holdings and Tahoe Group Co have mandated banks to organise roadshows for new dollar bonds.

CVC and Ardian charged up the leveraged loan deal pipeline with new buyouts of European businesses in Ireland, Greece and Spain this week. A strengthening European economy is likely to attract more, said market participants.

Investors in green corporate bonds had two very different deals offered to them on Tuesday. Spanish utility Iberdrola sold a green hybrid bond, while Toyota Motor Credit Corp, Toyota’s auto finance subsidiary, offered a long 3.5 year green tranche alongside a seven year non-green tranche.

Chinese telecom firm Huawei Technologies has launched a $1.2bn five year loan into general syndication.

China Development Bank Corp priced its maiden international green bond on Thursday, raising close to $1.7bn from a dual-currency transaction that will fund Belt and Road related projects. The deal offered diversification not only to the issuer but also to investors.