Mizuho

Europe’s corporate bond investors had the spectrum of credit ratings to pick from on Thursday, from A- rated Volvo Treasury down to German speculative grade fallen angel ZF Friedrichshafen.

Ford, the US car maker, offered investment grade bond investors the chance to dip into high yield on Tuesday, while its rival Nissan Motor is lining up a seven tranche behemoth bond issue that will create a euro curve out to eight years.

CNCB (Hong Kong) Investment, a subsidiary of China Citic Group, is planning to repay a $800m loan raised in 2018 after struggling to get consent from lenders for covenant waivers.

Hong Kong-based conglomerate First Pacific Co had to navigate underperforming bonds from peers and difficulties around price discovery for its $350m bond return.

Singaporean commodities company Mercuria has returned to the offshore loan market for its annual foray.

Japan’s Mizuho Financial Group came to the dollar market with a $2bn trade on Tuesday as it jumped ahead of the September funding rush.

Saudi Basic Industries Corporation (Sabic) is seeking to raise a dual tranche offering this week. The deal is the latest in a flurry of trades from Gulf issuers seeking to take advantage of attractive market conditions amid low oil prices and increasing Covid-19 related costs.

Following a trailblazing issuance from Abu Dhabi last week, the Emirate of Dubai has mandated banks to arrange a dual tranche offering, including a sukuk — its first international DCM outing since 2014. Qatar’s Ahli Bank was also in the market on Tuesday, launching a benchmark dollar bond.

Indofood CBP Sukses Makmur, an Indonesian instant noodle maker, has launched a $2.05bn-equivalent acquisition loan into syndication. The rare appearance of a strong credit in the market this year means banks appear eager to join the deal, writes Pan Yue.

Korea Expressway Corp made its debut in the Kangaroo market this week, taking A$450m ($324.6m) from a dual tranche deal.

Hong Kong property company Hysan Development Co made a quick return to the bond market on Wednesday. It added $200m to a perpetual non-call three year deal priced just last week, thanks to strong follow-up demand.

Masraf Al Rayan, one of the largest Islamic banks in Qatar, was out on Wednesday with its second international sukuk. The deal is also the second from CEEMEA to hit the market following the brief summer lull.