Nomura

Two borrowers visited the long end of the dollar curve this week and while both completed their deals successfully, investors clearly displayed more appetite for the higher yielding of the pair.

Engineering Group, an Italian IT services company, has returned to market after pulling a deal in June, for a second attempt at taking out the buyout bridge for its acquisition by Bain Capital and Neuberger Berman.

Asian Development Bank and the Province of Ontario hit the dollar market on Tuesday, with both issuers tapping the tricky 10 year part of the curve ahead of the start of public holidays in Asia this week which will put a pause on issuance in the currency.

Mongolia returned to the dollar bond market on Monday, ending a nearly three year hiatus. The sovereign borrower pulled off a $600m liability management exercise that has taken care of the country’s upcoming bond maturities.

Biopharmaceutical firm Everest Medicines has hit the road for its up to HK$3.5bn ($451m) Hong Kong IPO.

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The Asian Infrastructure Investment Bank and the New Development Bank, two relatively new supranational borrowers with a focus on the emerging markets, made a big splash in dollars this week as they continue to build out their curves. The issuers managed to achieve strong results despite facing worse volatility than expected as markets soured amid rising fears over the coronavirus pandemic.

The Asian Infrastructure Investment Bank and the New Development Bank made a big splash in the dollar market on Tuesday, despite facing worse volatility than expected as fears over the coronavirus pandemic grew.

Following investor calls last week, the Asian Infrastructure Investment Bank and the New Development Bank hit screens on Monday to announce new dollar benchmark transactions, which will be used to support their member states in the fight against the coronavirus pandemic.

Instant noodle maker Tingyi (Cayman Islands) Holding Corp was back with a $500m deal on Thursday after an eight-year hiatus from the dollar bond market.

Warburg Pincus-backed Computer Age Management Services, an Indian finance-focused technology firm, is set to launch its IPO of up to Rp22.4bn ($305.2m).

Caisse d’Amortissement de la Dette Sociale (Cades) and the International Development Association set new size records this week, with the former bringing the biggest ever social bond in dollars and the latter issuing its biggest ever bond since entering the capital markets in 2018.