Mizuho
-
Agricultural Bank of China sold a multi-currency deal through its Hong Kong branch this week, raising $1.322bn. -
Supply was light in the US corporate bond market this week, partly because the May non-farm payrolls report is due on Friday. Participants are braced for volatility after the US Federal Reserve announced on Wednesday it would start selling its holdings of corporate bonds, purchased as a stimulus measure at the height of the pandemic. It was left to Vodafone of the UK to reopen new issuance after the Memorial Day holiday.
-
Indofood CBP Sukses Makmur made its dollar debut this week with a dual tranche $1.75bn bond. The Indonesian noodle maker overcame investor scepticism about its fundraising strategy by selling long-dated notes that saw a strong reception from the market. Morgan Davis reports.
-
Indian company Tata Motors' subsidiary TML Holdings has printed its largest dollar bond so far, raising $425m at a low yield.
-
Philippine company SMC Global Power Holdings Corp returned to the dollar bond market for the first time this year on Wednesday, meeting strong-enough demand to boost the size of its deal and offer just a small premium.
-
Nestlé, the Swiss food company, landed its largest ever euro bond on Wednesday, close to or through fair value. But investors showed a strong preference for the shortest tranche after EU inflation turned out higher than expected this week.
-
Hong Kong property company New World Development Co sold a perpetual bond this week, raising $1.2bn to fund a tender offer for a fixed-for-life deal.
-
-
Crédit Agricole issued a callable Samurai bond this week that will reset to a spread over the local government bond curve, as the yen market transitions away from Libor ahead of its cessation later this year.
-
AstraZeneca, the UK drug maker, hit the euro market on Wednesday after printing $7bn across the Atlantic a day earlier. The borrower is building up funds to pay for its $39bn acquisition of US rival Alexion Pharmaceuticals.
-
Mizuho's new head of linear rates trading, Jason Cohen, has made three hires as he looks to build a franchise for the Japanese bank in EMEA.
-
SAIC Motor Corp’s auto financing arm is bringing a rare green auto loan deal to China’s ABS market. It is set to price the Rmb910m ($142m) transaction next week.
