News content

French property company Icade printed its first green bond on Monday, but no other corporates ventured into the market. Having the full attention of investors allowed the issuer to increase the deal by €100m and price it 20bp tighter than initial price thoughts.

Driven by a rush to buy short term paper, Bond Connect flows through Shanghai Clearing House (SHCH)’s recorded their largest volume so far last week. But a closer look at the data suggests that markets are not getting the full picture of how successful the scheme has actually been.

The Communist Party congress is set to kick off on October 18, the emirate of Sharjah plans the Middle East’s first Panda bond issuance, and Swift data says the renminbi was the fifth most used currency for payments globally in July.

GlobalCapital is happy to announce the nominations for its Sustainable and Responsible Capital Markets Awards 2017.

Volkswagen Finance (China) is preparing to hit the securitization market for the second time this year, only three months after its last transaction. But while the new deal retains some of the key features from VW’s last one, it will be notably smaller, raising only Rmb3.66bn ($554m).

Red chip Brightoil Petroleum (Holdings) has picked JP Morgan First Capital (JPMFC) to underwrite its debut Panda bond on Shenzhen Stock Exchange (SZSE). The deal came after JP Morgan exited the joint venture (JV) earlier this year.

China Securities Regulatory Commission says stock exchanges should take up a more active regulatory role, the discipline commission puts anti-graft official stationed at the Ministry of Finance under investigation, and an index by Bank of China shows an uptick in cross-border renminbi activity in the second quarter.

Two holidays and September’s European Central Bank meeting will mean the next two weeks will offer short windows for issuance, but the success of the two deals that priced this week will inspire corporate bond issuers looking at the market.

Saudi Arabia considers issuing its first Panda bond, Ministry of Finance (MoF) plans to roll over Rmb600bn ($90.1bn) of debt by issuing special treasury bonds, and the Chinese premier piles pressure on state-owned enterprises (SOEs) directly owned by the State Council to deleverage more rapidly.

LafargeHolcim on Tuesday became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, with order books more than three times subscribed.

Six corporate investment grade borrowers took home a combined $3.75bn as the US dollar market finally took a breather for the summer after the breakneck pace of issuance for the month so far.

Two deals were priced this week in the European corporate bond market, and next week already looks busier. With a roadshow under way and four others coming up, the window before September’s European Central Bank meeting looks full.