Nomura

Korea Water Resources Corp raised $350m on Tuesday, becoming the first corporate in the offshore market after South Korea’s presidential election, issuing just two days after North Korea tested a new missile.

The European Financial Stability Facility is lining up a 16 year euro benchmark for Wednesday, following a blow-out €7bn 30 year OAT.

Korea Water Resources Corp as well as developers Sun Hung Kai Properties and Logan Property Holdings launched new dollar deals on Tuesday morning.

The public sector debt market is in for another hectic week of borrowing as issuers flock to take advantage of the superb conditions left in the wake of Emmanuel Macron’s victory in the French election.

Nissin Foods Company, part of the Japanese instant noodle giant, has filed a listing application with the Hong Kong Stock Exchange.

Indian state-owned Housing and Urban Development Corp has wrapped up a Rp12bn ($186.6m) IPO nearly 80x covered, following a deluge of investor demand on the final day of bookbuilding.

National Highways Authority of India grabbed a Rp30bn ($465.88m) five year Masala bond on Thursday, despite the offshore rupee market not getting the enthusiasm that issuers want.

The head of Greater China healthcare in the investment banking division of Nomura has left the firm for Credit Suisse, said sources.

Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.

Volatility late in the week failed to dampen a scorching few days of public sector dollar issuance, auguring well for more expected supply in the currency next week. Four issuers — some of which came this week to avoid other trades pencilled in for next week — were able to price deals at tight levels, with some coming through their curves.

South Korea’s Woori Bank sealed its third Basel III additional tier one deal on Monday, raising $500m just before the country held its long-awaited presidential election.

National Highways Authority of India served up its debut Masala deal on Thursday morning, offering investors a second offshore rupee option in under a month.