Morgan Stanley

The stampede by corporate dollar issuers continued into a second consecutive week with Italian energy giant Enel printing the largest ever deal by an Italian corporate in the US investment grade market, and the second biggest Yankee deal of 2017.

Higher beta corporate borrowers have shone this week to print eight bonds totalling €5bn, as investors were happy to fill their boots on cheaper paper after weeks of jumbo multi-tranche double-A rated bond issuance.

China National Chemical Corp (ChemChina) defied any jitters caused by Moody’s downgrade of China’s sovereign on Wednesday, pricing a senior perpetual bond. The only dollar debt issuer to brave the market, the state-owned company’s strong following helped it price inside fair value, said bankers.

Reliance Infrastructure has received the final go ahead from India’s market regulator to list its infrastructure investment fund, putting it on track to be the country’s third InvIT IPO.

WuXi Biologics’ HK$3.9bn ($510.4m) IPO is off to a resounding start, with books multiple times covered within hours of opening on Thursday, according to bankers close to the deal.

Internet and mobile platform company Sea, formerly known as Garena Interactive Holding, is planning a US IPO, according to a source familiar with the matter.

China National Chemical Corp (ChemChina) opened books for a senior perpetual non call five bond on Wednesday morning, hitting the market soon after Moody’s downgraded the country’s rating.

The Kingdom of Belgium hit the long end in euros on Tuesday, taking advantage of a healthy market to raise €3bn with a 20 year bond. Meanwhile, Nederlandse Waterschapsbank (NWB) announced a tap of a 2041 line.

Iron and steel company Metallurgical Corporation of China raised $500m from the sale of its three year bond on Monday, after enthusiastic investors flocked to the deal.

The Export-Import Bank of Korea (Kexim) priced a five year euro benchmark on Monday, nipping in with a one day execution ahead of a trio of deals scheduled for Tuesday.

India Grid Trust has priced its Rp22.5bn ($351m) IPO at the high end of the range despite being stung by IRB InvIT Fund’s poor debut.

Private equity firm CDH has sold off a block of shares in Chinese meat processing company WH Group, netting HK$5.79bn ($744.9m) on the back of strong long-only demand.