LBBW

The arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that though the oversubscribed order books closed on Monday, they have extended the timetable for settlement to allow some investors “additional time to firm up their orders”.

Denmark’s Bunker Holding has signed a multi tranche revolving credit facility totaling $1bn, as the shipping fuel and lubrication oils company prepares for a “paradigm shift” headed for its industry.

LBBW did not have to pay a premium to launch a tier two in 10 year bullet format on Monday. A banker on the deal said that other issuers could follow suit, eschewing call options to take advantage of a renewed thirst for duration among investors.

Rating: A2

Région Wallonne almost wiped out its total funding needs for the year with its first set of benchmark and sustainable bonds on Thursday.

Région Wallonne is moving forward with plans to sell its first bonds in benchmark and sustainable format, with initial price thoughts announced on Wednesday for new seven and 15 year bonds.

MünchenerHyp (MuHyp) issued the longest-ever benchmark Pfandbrief on Thursday, tapping into investors’ thirst for yield amid low interest rates. Investors poured into the book, lodging more demand than for any Pfandbrief issued for at least eight years.

Bank of China sold another blockbuster Belt and Road transaction on Wednesday, raising $3.8bn across eight tranches of notes in five currencies across five bank branches, It was the largest transaction sold under the BRI label.

The Basque Government was able to tighten pricing by 5bp from initial price thoughts as it received soaring demand for its 10 year sustainable bond on Tuesday — its biggest public issue since 2009.

Arrangers of Reliance Industries’ debut Schuldschein have sent investors a statement saying that demand “considerably exceeds the initial volume” target of €150m. The success of the transaction came as a surprise to some of the arrangers’ competitors, but is considered a good sign for the market.

Austrian plastics maker Borealis has returned to the Schuldschein market, seeking euros and dollars.

Sovereign, supranational and agency (SSA) issuers burst into the second quarter with a scorching week that saw plenty of big books and minimal or negative premiums.