JP Morgan

Two SSA borrowers printed dollar benchmarks on Wednesday, pulling off solid trades in spite of some investors put off by tight spreads.

Public sector borrowers are mainly keeping to the short end of the dollar curve this week, but at least one top tier issuer is understood to be considering a 10 year dollar benchmark in the next few weeks.

Lifestyle International Holdings is making a return to the dollar bond market after two years away, having mandating three banks for a roadshow in Hong Kong this week.

World Bank will find out whether what has been a resilient market for public sector dollar issuance over the summer can support a jumbo trade, after mandating for what will be the first such deal in dollars from an SSA since the spring. Swedish Export Credit Corporation is also out in the currency, going ahead despite some geopolitical and US governmental turmoil over the last few days — and more issuers are lining up to follow.

European corporate bond market participants are expecting supply to start again after the UK bank holiday on August 28. Kimberly-Clark was the first issuer into the pipeline when it announced a European roadshow on Monday morning.

China Great Wall Asset Management Co has mandated a whopping 20 banks for its next dollar bond, and is planning to meet Hong Kong investors on Tuesday.

JP Morgan has appointed a vice-chairwoman of global investment banking (GIB) for China as it continues to grow in the market.

Chinese live streaming platform YY tapped the US market this week with a block sale of American Depositary Shares (ADS), capitalising on a surging stock price. Bankers are preparing for a raft of similar block sales — as well as a growing list of US IPOs from Chinese companies. Jonathan Breen and John Loh report.

Some banks will emerge from summer with a pressing need to secure new staff, but coverage gaps are taking longer to fill, writes David Rothnie.

Amazon priced the third jumbo M&A financing bond issue in a month in the US corporate bond market on Tuesday. The $16bn seven tranche package was the fourth-largest new issue of 2017, but the summer of 2017 could signal the high point of M&A related issuance for some time, writes Nigel Owen.

Indonesia’s Medco Energi Internasional has added $100m to its outstanding five non call three bonds from last week, bagging a total of $400m as Chinese investors continue to prove a receptive audience.

Global systemically important banks (G-SIBs) in the US will still have to issue billions of dollars of new bonds in 2017 to meet their regulatory requirements for long-term and loss-absorbing debt, potentially leading to a busy four months for primary market activity.