Mizuho

Bank of China took its pivot away from Libor-linked bonds further this week by selling a dollar note tied to the secured overnight financing rate (Sofr) and a sterling-denominated deal that was the first Sonia-linked bond from a Chinese issuer. While BOC’s transaction was important, bankers say the new benchmarks are still slow to take off in Asia. Morgan Davis reports.

China Ping An Insurance Overseas (Holdings) found strong support for its $550m 10 year bond, defying initial concerns around volatility in longer tenors.

Indian power finance company REC, formerly known as Rural Electrification Corp, has mandated five banks for a $600m loan.

Chia Tai Animal Husbandry Investment (Beijing) Co, an onshore China entity of Thailand’s Charoen Pokphand Group, is borrowing its first offshore loan directly.

Valeo, the French auto parts maker, and US exchange company Nasdaq brushed off any worries of contagion from a weak sterling market to print bonds in euros flat to fair value on Tuesday, with the issuers able to take full advantage of the an exceptionally quiet market.

Adani Ports and Special Economic Zone locked up a $750m dual-tranche bond on Monday. But the deal was not easy for the Indian borrower, as negative headlines at home and a volatile Asian market kept many investors away. Morgan Davis reports.

ICBC Financial Leasing Co sold a $1.25bn three tranche deal on Monday that was well supported by Chinese banks.

Valeo, the French car parts maker, has mandated for a debut sustainability-linked bond, hours after posting results showing a solid bounce back from last year.

Thai agri-business firm Charoen Pokphand Foods’ subsidiary, CPF Investments, is in the market for a new $400m loan.

The Vietnam consumer finance subsidiary of Korea’s Mirae Asset Financial Group has become the latest firm to join a flurry of Vietnamese financial institutions in the loan market.

ICBC International Holdings priced a three year bond on Monday with the support of a 22-member syndicate team.

Mizuho has lost another three loans bankers in Hong Kong, after a senior director left at the beginning of the year, according to a source close to the situation.