Mizuho

Hong Kong property company Hysan Development Co returned to the bond market on Tuesday, raising $400m in spite of the political turbulence that has rocked the special administrative region.

A pair of French banks visited the five year point of the Kangaroo curve on Tuesday. BPCE raised A$650m of senior preferred paper, while BNP Paribas mandated for a senior non-preferred deal.

Pfizer was at its opportunistic best this week as it issued $4bn of notes that included the lowest ever coupon on a corporate five year bond.

Henderson Land Development Co took advantage of the strong aftermarket performance of recent bonds sold by its Hong Kong peers to raise $300m from investors on Wednesday.

Property company HongKong Land made a rare appearance in the dollar bond market on Tuesday, ending a six year hiatus with a $600m trade.

The high grade corporate bond market saw chunky books on Tuesday, but there are concerns from some corners of the market that primary issuance is showing “serious signs of fatigue”.

UK utility Western Power Distribution has signed £845m of revolving credit facilities in a rare deal in the UK market not linked directly to the Covid-19 crisis.

Charoen Pokphand Group has launched a $7.15bn-equivalent loan into general syndication after attracting five banks at the senior level.

Europe’s high grade corporate bond market offered investors an assortment of trades this week, with some defensive issuers managing to print inside fair value, while some of the more esoteric picks had to pay up.

Saudi Aramco has closed a $10bn loan, according to bankers near the deal. The loan — the largest signed in the Middle East so far this year — comes amid a drop in oil prices, which has sent borrowers in the Gulf hunting for financing.

Harley-Davidson, the US motorbike maker, has opened books on a three year euro bond at a nosebleed-inducing wide spread. Bankers suggest the company had little choice but to accept to pay a sky high margin.

Mining company Indonesia Asahan Aluminium (Inalum) battled weakening fundamentals and financial troubles at its state-owned peers to raise $2.5bn from a triple-tranche bond on Monday.