Nomura

Banco de Sabadell was met with good demand for the first euro additional tier one benchmark of the year on Tuesday, as investors welcomed a rare opportunity to pick up subordinated bank debt in the primary market. Alpha Bank could add to the supply later this week after unveiling plans for a new tier two transaction.

Two Chinese property companies seized the market window on Thursday to raise a combined $802m from the bond market.

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Non-European names hit the euro market this week with a trio of US companies and Japan’s Nippon Telegraph & Telephone Corp (NTT) raising debt. But syndicate bankers say rising US rates are still way off the sweet spot that would make the euro market irresistible for all Reverse Yankee issuers.

Nippon Telegraph & Telephone Corp (NTT) had a storming outing in the bond markets this week, easily raising €1bn in Europe and $8bn on the other side of the Atlantic to refinance M&A bridge debt.

SciClone Pharmaceuticals bagged HK$2.18bn ($281.2m) after pricing its IPO high on the back of storming demand from institutional and retail investors, according to sources close to the deal.

Two top tier SSA borrowers hit opposite ends of the curve on Wednesday. Asian Development Bank launched a trade at the 10 year tenor, braving a sharp sell-off in US Treasuries. KfW appeared at the short end of the curve where only a handful of borrowers have printed this year.

Handelsbanken is set to return to the Australian dollar market for the first time in nearly two years this week, as Aussie dollar senior paper rallies thanks to the long term absence of funding from the market's major domestic banks.

BNP Paribas and UBS opened the offshore Australian dollar FIG market for 2021 this week, with a pair of new senior deals.

Indian auto parts firm Sona Comstar is set to file paperwork for an up to Rp60bn ($827.9m) IPO, according to a source close to the deal.

SciClone Pharmaceuticals, which manufactures a possible treatment for the coronavirus, hit the IPO market with a HK$2.18bn ($281.2m) offering on Friday.