Mizuho
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Huarong Asset Management Co hired 30 banks to lead its triple tranche transaction on Thursday, relying on some orders from the leads to secure $1.9bn.
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Triton International, a global shipping container firm based in Bermuda, has amended and extended a $1.25bn revolving credit facility, cutting its debt cost in the process.
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Chinese issuers were out in force again in the bond markets on Wednesday, with financial companies ICBC International Holdings and Avic International Leasing Co raising $1.15bn between them.
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Brazil’s Suzano tapped international bond investors for the fourth time since September on Tuesday, capitalising on a dearth of recent supply from Latin America and favourable sentiment towards the pulp and paper sector.
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Three Chinese borrowers sold perpetual notes on Tuesday, raising a combined $900m from the rare structure.
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The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.
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KKR, the US private equity firm, issued its first euro bond on a crowded day on Wednesday, competing with four other issuers, but that did not stop it achieving attractive execution.
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The dollar corporate bond market showed its resilience this week as issuance rebounded, despite the US-China trade turmoil. “Trump, Trump, Trump,” was how one syndicate manager explained the reasons for the return of volatility as high grade credit markets see-sawed with the President’s mood swings.
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The Export-Import Bank of Thailand played to investors’ need for diversity on Wednesday, marketing a $300m-capped transaction at a very tight rate.
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Mexican state-owned oil company Petróleos Mexicanos (Pemex) was the highlight of a difficult start to the week for Latin American bonds. But though news of a new $8bn loan allowed it to outperform the market, analysts warned its troubles were far from over.
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The strength of corporate bond demand, after falls in stockmarkets engendered by the US's hardened stance on trade talks with China, was tested in the US on Wednesday by a $20bn issue for IBM. In Europe, the test came on Thursday, as five companies finished roadshows and issued. So far the signs are very encouraging - good news for the clutch of companies still on the road.
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European corporate bond investors showed they were hungry for paper on Thursday, despite the gloom infecting equity markets this week about the prospect of a restart to the China-US trade war. A flurry of issuers came to the market, hot from roadshows, and got plenty of over-subscription while slashing their spreads by 20bp to 30bp.