Mizuho
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BNP Paribas sold its first Samurai bond not to reset to Japanese Libor on Friday, ahead of the risk free rate's cessation later this year. -
Barclays returned to the Kangaroo bond market this week after being absent for two years to raise A$600m across three tranches of holding company debt. The market was split over which tranche offered the most value in pricing.
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SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.
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One of China’s big four banks, Agricultural Bank of China, and securities house Haitong International Securities Group joined the flurry of Chinese bond deals in the offshore market this week.
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Barclays is set to end a two year absence from the Kangaroo bond market this week, as it seeks up to three tranches of callable senior debt.
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The spread benefit of ESG-linked debt was on clear display in Europe’s corporate bond market this week. For the second time in days, investors were offered two similar transactions and paid significantly more for the ESG option, in this case a green bond from Red Eléctrica.
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Philippine property developer SM Prime Holding has returned to the loan market after an absence of five years.
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Shinhan Financial Group sold a Basel III-compliant additional tier one bond with a sustainability label this week, funnelling some of the proceeds from the $500m trade to Covid-19 relief efforts.
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Beijing Enterprises Holdings battled weakened sentiment around Chinese state-owned enterprises to sell a $700m dual tranche transaction on Wednesday. The company was able to price a successful deal, but only after overcoming recent fears about Chinese issuers. Morgan Davis reports.
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Bank of America sold a floating rate note over the Bloomberg short-term bank yield index rather than Sofr this week, as Morgan Stanley added to the post earnings rush in dollars.
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Corporate bond issues came at a healthy clip in the US market this week, despite earnings blackouts, as investors showed a preference for highly rated paper.
