Mizuho

Bank of Ireland was more than three times subscribed for a €300m tier two bond this week, nailing its second attempt at the deal after returning to the market with a wider spread for investors.

The fourth quarter began on a rocky note for global equities but the US high grade bond market has shrugged off concerns about stalling growth and issuance conditions remain strong.

Lloyds Bank Corporate Markets was marketing its first senior unsecured bond in euros on Friday, taking advantage of a quiet primary market. The issue gave investors a ‘healthy’ new issue premium, according to a FIG banker.

Hong Kong Telecommunications (HKT) proved this week that investors are still eager to buy bonds issued by companies with a focus on the Hong Kong SAR, despite the ongoing political turmoil. But that confidence will face a big test as names such as Cathay Pacific and Li & Fung get ready to hit the market. Addison Gong reports.

Commodities company Mercuria has returned for its annual outing to the syndicated loan market, and is seeking $1bn from a four-tranche borrowing.

Investors gobbled up Hong Kong Telecommunications (HKT)’s $500m bond outing, despite a busy day for new issuance and the ongoing turmoil in the Hong Kong SAR.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

Budweiser Brewing Company Apac has raised HK$39.2bn ($5bn) after pricing its IPO at the bottom of guidance, and partially using an increase option. It was the company’s second attempt at listing in Hong Kong.

Korea Development Bank made a billion-dollar outing in the global bond market, and got away with offering very little premium to investors wooed by its safe haven status.

Budweiser Brewing Company Apac has revived its Hong Kong IPO two months after a headline-grabbing flop. But a smaller target size, a stamp of approval from a high-profile cornerstone investor and the off-loading of an unattractive chunk of its business all mean that the firm has a better chance of success this time around. Jonathan Breen reports.

Besides the rare offering of a Chinese issuer on Wednesday, when Jin Jiang International issued a €500m bond, euro corporate bond investors had to make do with two other deals, from Telenor and Mondelez.

China Orient Asset Management Co (Orient AMC) priced an almost 10 times covered dual-tranche bond with strong backing from its lead manager consortium. The borrower went out without a keepwell deed from the onshore entity, but investors were undeterred by the structure.