Mizuho

The Ministry of Finance of the People’s Republic of China has mandated 12 banks to work on its planned $3bn return to the bond market, which could come next week.

Amphenol Technologies, the European subsidiary of a US fibreoptic cable connector firm, sold its first bond in euros on Monday. Despite a weaker secondary tone, demand for the 10 year deal justified the issuer’s decision to press ahead with the trade.

Eutelsat, the French satellite operator, overcame some strong negative sentiment around its sector to increase its latest corporate bond issue. This was not the first time the company had overcome a difficult environment to get a deal done.

Gulf International Bank (GIB) has picked banks for a five year dollar benchmark, joining the stream of high quality issuance from Middle Eastern borrowers.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.

Mizuho has hired Mark Currie from Deutsche Bank as head of sterling rates trading.

Nestle, Électrcité de France and BP have led a stampede to the dollar market ahead of an expected rate hike by the Federal Reserve next week, as credit markets shrugged off trade wars between the US and China.

American IT services firm DXC Technology made its second visit to the European corporate bond markets on Wednesday and found a good reception from investors for its debut euro issuance.

More supranational banks will use synthetic securitization and other risk transfer techniques, specialists believe, after the African Development Bank’s trailblazing $1bn deal, revealed this week, writes Jon Hay.

China Construction Bank and Shanghai Pudong Development Bank Co’s Hong Kong branch rolled out floating rate notes on Monday, grabbing both dollar and euro investors’ attention.

The African Development Bank has become the first supranational bank to use a securitization sold to private investors to free up balance sheet capacity. The deal, four years in the making, demonstrates a new technique that could expand development banks’ firepower to promote development.

The African Development Bank’s $1bn synthetic securitization is not its first risk transfer transaction, and will not be its last. The bank has marked itself out as a leader in this sphere, though the effort to get such techniques to work is also highly collaborative.