Mizuho

The Indian renewable energy company issues a bond at holding company level, but compensates investors for the additional risk

20 years the sweet spot for US corporate issuers in euros

Chinese local government owned gold mining company surprises market with popular $600m bond

Tianjin Great Wall Binyin Automotive Finance Co has continued its foray into the internationally rated ABS market since its first such deal onshore over a year ago, returning for a Rmb3.2bn ($494m) transaction at the end of last week.

The Thai subsidiary of Taiwan’s Chailease International Finance Corp has returned to the loan market.

Hyundai Capital Services sold a three year bond denominated in offshore renminbi this week, raising Rmb700m ($108m) at an attractive level versus its existing dollar funding.

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.