JP Morgan

Primary bond activity in Asia picked up again on Thursday following the end of the meeting of the Federal Open Market Committee (FOMC), with a pair of Chinese issuers launching separate deals in dollars and euros.

Two SSAs tapped the middle of the euro curve on Wednesday, a move about to be copied by another agency which is set to bring a five year deal on Thursday.

Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.

Latin American sovereigns’ march back towards European bond markets continued on Tuesday as Peru achieved its lowest ever coupon on an international bond with its long 10 year. But opinion is split on the value of the euro market.

A pair of agencies are set to tackle the belly of the euro curve, following a five year euro benchmark from European Stability Mechanism that left the supranational with just €2bn left to fund in 2015.

Bank Nederlandse Gemeenten sold its largest ever sustainability bond and the European Investment Bank added a new currency to its climate bonds on Tuesday, as a draft standard was launched for the market.

Peru opened books on its first euro transaction in over a decade on Tuesday morning, while other Latin American sovereigns are eyeing deals in the currency.

InterGlobe Aviation has launched its IPO of as much as Rp32.5bn ($500m) after finding robust demand from anchor orders, with their response expected to boost interest from other investors during bookbuilding.

Beijing Automotive Group (BAIC) has priced the second euro-denominated bond by a Chinese auto company, following a recent issue from one of its peers. A total of seven firms were hired as joint global co-ordinators for the €500m ($552m) deal after the issuer added five more banks to the syndicate to reward them for placing anchor orders.

Rizal Commercial Banking Corp (RCBC) has wrapped up its second offering in the dollar bond market this year, finding strong interest from onshore and offshore investors thanks to a rating upgrade from Moody’s.

BNP Paribas has hired an experienced financials credit trader to its London operations.

Socially responsible investors received a fresh menu of bonds on Monday, with a borrower announcing an inaugural climate bond, a regular SRI issuer entering a new currency and an agency returning to its sustainability format.