Mizuho

The Export-Import Bank of China (Chexim) is holding investor calls on Monday for its third offshore transaction of 2017, opting again for a combination of dollars and euros, and possibly its first 30 year dollar bond.

Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.

A $300m three tranche loan for Korean lender Kookmin Bank is due to close by the end of this week, said bankers. The deal offers lenders a rare chance to take exposure to a Korean credit.

Toyota Motor Finance (China) is hitting the Chinese asset-backed securities (ABS) market for a second time this year. The Japanese automaker maker will approach investors with a Rmb3bn ($452.1m) deal on November 16.

Siam Commercial Bank closed its second dollar deal of the year on Thursday, leveraging on its rarity value as a Thai credit in the debt market, while also navigating a surprise hiccup near the end of bookbuilding.

Banks have ramped up their use of green senior bonds in the fourth quarter of 2017, with many of their latest offerings sporting fantastic results in terms of pricing. But, as Tyler Davies reports, European financial institutions have yet to mix the principles of green finance with the tenets of bank capital — an experiment that could be even more beneficial for everyone involved in the growing green bond market.

The sterling corporate bond market took until Wednesday to join the issuance frenzy the euro market had enjoyed in the first half of the week, but three deals in two days reminded issuers and investors that it is still an option to be considered into the end of 2017.

On Thursday, the sterling corporate bond market reminded participants it was still going strong after the euro market had dominated the first half of the week. Petroleos Mexicanos, also known as Pemex, and Western Power Distribution followed the success of Wednesday’s deal from Manchester Airport.

If the only benchmark euro deal on Thursday had been true to its roots, it would have built a waiting list rather than an order book. But demand still far outstripped supply when Italian luxury sports car manufacturer Ferrari sold its second corporate bond issue.

Thailand’s Siam Commercial Bank is courting investors for a dollar bond, to be sold through its Cayman Islands branch, while China Minsheng Banking Corp is also marketing a transaction through its Hong Kong arm.

The world’s largest bread maker, Grupo Bimbo, returned to bond markets on Tuesday after a three year absence. Its 30 year bond was sold mainly to US investment grade buyers, despite the issuer’s Mexican nationality.

A £640m ($839m) refinancing for Tata Motors has entered the senior phase of distribution with seven banks running the deal.