Morgan Stanley

The dollar market got off to a busy start in August with US telecoms heavyweights Verizon and Comcast taking home a combined $5.5bn on the back of strong demand.

Public sector issuers are taking advantage of strong summer conditions in the dollar market to bring green and arbitrage-style deals, with more issuance expected next week.

Sunac China Holdings raised $1bn on Wednesday from a dual-tranche bond, despite a lot of market talk about the company this year. Bankers said the deal's success showed investors’ confidence in the company, but analysts argued the issuer left enough on the table to get demand.

A solitary capital increase from Monday was the stand-out trade of a meagre bunch in equity capital markets this week, with the IPO market on pause until September.

Hong Kong-listed Sunac China Holdings has set its sights on the debt market for a dual tranche dollar bond, one week after sealing a HK$4.03bn ($516.2m) top-up placement.

The dollar market is grinding on throughout the summer, with public sector borrowers pushing out deals at the short end, although none have been in benchmark size this week. Two issuers launched transactions on Tuesday with a third slated to follow on Wednesday.

Turkey’s Coca-Cola İçecek (CCI) is set to offer investors a rare chance to buy Turkish corporate debt, and has announced its intention to raise up to $1bn from the bond markets within the next year.

Foschini Group, the South African fashion retailer, raised R2.5bn ($190m) of equity capital on Monday night, in an accelerated capital increase that was increased from R2bn.

Foschini Group, the South African retailer of clothing, cosmetics and jewellery, has launched the sale of R2bn ($150m) worth of new shares to repay a loan used for an acquisition in Australia.

Two European agencies are set to launch dollar transactions on Tuesday, defying any talk of a summer slowdown to take advantage of supportive conditions.

AT&T racked up a monster order book on Thursday, as the US telecoms giant hit the market with a $22.5bn M&A financing.

Following a US Treasury report on regulating the financial system, published last month, the chief executives and chief financial officers of the big US banks lined up to praise the reforms’ potential — though they could be the last nail in the coffin of international regulatory co-operation.