Mizuho

A slump in high-grade issuance has prompted fears of a prolonged slowdown in US corporate bond supply, with borrowers shelving their funding plans until the autumn.

Lifestyle International Holdings has returned to the loan market for a HK$8bn ($1bn) fundraising after a gap of nearly five years. The borrower, which operates the well-known Sogo department stores, has opted for a syndication instead of a club deal, with the rarity element of its name helping find to attract interest. Shruti Chaturvedi reports.

Mizuho has hired Christopher Nam for its West coast technology investment banking team, a big part of the bank’s US expansion drive.

A subsidiary of Lifestyle International Holdings, which operates department stores under the Sogo brand, has launched a HK$8bn ($1bn) loan into limited syndication.

China Development Bank sold a $1bn bond on Thursday, wrapping up its third offshore outing of the year. Thanks to its quasi-sovereign status as well as savviness in timing, the policy bank managed to catch an opportune window for issuance.

Asia’s bond markets have remained resilient despite a Federal Open Market Committee meeting this week and rising concerns about the UK referendum on European Union membership. With deal flow building up for next week, bankers said Asian issuers stand to benefit from volatility in Europe, writes Narae Kim.

Ooredoo executed a swift deal to snap up $500m ahead of the US Federal Reserve's interest rate meeting on Wednesday, printing inside its curve as demand for Middle East credits defied weak markets.

Size was the highlight for BMW Automotive Finance this week as it executed the joint largest China auto ABS by a foreign company, raising Rmb4bn ($607m) with its Bavarian Sky China 2016-1 Trust.

MTR Corp has wrapped up its syndicated loan at a larger than expected HK$25bn ($3.22bn), after banks piled in and allowed the borrower to increase the facility from HK$15bn.

Islamic Corporation for Development (ICD) is planning a $250m private placement (PP) in July which will bring it close to its full funding requirement for the year.

SAIC-GMAC Automotive Finance is set for its second China auto ABS of the year, with the Rmb4bn ($609m) Rongteng 2016-2 Retail Auto Mortgage Loan Securitization to launch on Friday. But unlike the company’s trade from February, the upcoming offering will feature a static pool instead of a revolving structure.

Indonesian state-owned oil company Pertamina is understood to have lined up seven banks for a $1.5bn five year fundraising.