Morgan Stanley

Indian Railway Finance Corp (IRFC) found an opportune time to open books for its debut green dollar bond on Tuesday morning, riding off India’s sovereign ratings upgrade last month.

China Reform Holdings Corp, China General Nuclear Power Corp (CGNPC), Hong Kong’s Pearl Holding III and Shimao Property Holdings are among the issuers in the market with new transactions on Monday.

German car company BMW became the third issuer to sell a deal in the infrequent Eurodollar new issue market this November, as well as solidifying its position as the largest seller of corporate MTNs in 2017.

On Thursday German telecoms company Deutsche Telekom sold its third bond with a 2024 maturity, while Italian state owned railway operator Ferrovie Dello Stato issued its first green bond.

Alibaba Group Holding navigated every roadblock on its way to a $7bn issuance on Wednesday, sealing the second largest corporate bond from Asia after its own $8bn debut three years ago. The unexpected sell-off in tech stocks and US Treasuries posed only a small challenge to the tech giant’s debt market return, writes Addison Gong.

Huarong Real Estate Co and Fosun International approached investors with different trades on Tuesday, with the former nabbing €500m from its inaugural offshore bond and the latter taking $300m from an opportunistic deal.

Srei Equipment Finance, a wholly-owned subsidiary of Srei Infrastructure Finance, filed a draft prospectus for its IPO with the Indian market regulator on Tuesday.

Indian Railway Finance Corp (IRFC) has mandated banks for its maiden green dollar bond, coming close on the heels of a similar issuance from peer Power Finance Corp.

Tech giant Alibaba Group Holding is taking bids for a five-tranche transaction, putting its focus on the longer end of the curve. Hopes are high for yet another impressive deal from the Chinese firm, which last stunned the market in 2014 with the largest G3 bond on record from Asia ex-Japan.

The IPO of Adnoc Distribution, the petrol stations business of Abu Dhabi’s state oil company, was covered at its base size, three working days into the bookbuild.

Swiss food and drinks company Nestlé tapped a fourth currency market in three months on Tuesday when it printed a £500m 3.5 year bond ahead of a sterling redemption.

As fund managers fill their pockets with corporate leveraged finance debt, borrowers like BMC Software are taking advantage of strong conditions to slash funding costs across their financial structure.