UBS

Thailand’s Gulf Energy Development Co has priced its IPO at the top of guidance, raising Bt23.9bn ($730.4m) from the largest corporate listing in the country in over a decade.

The barrage of Chinese debt issuers in the dollar market continued on Wednesday as four issuers ventured out with new bonds.

Broad demand helped Mexico’s Crédito Real price the first perpetual hybrid from a Latin American non-bank lender at the tight end of guidance on Tuesday.

The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

China’s Tianqi Lithium Corp raised $300m on Monday, with its dollar bond debut being more than six times covered. Several factors coincided to give the deal a fillip, including the scarcity value of the company's notes, its market leading position, and a yield pick-up over similarly rated state-owned names.

China State Construction International Holdings and Shenzhen International Holdings are taking bids for dollar bonds, while Yiwu State-owned Capital Operation Co has mandated banks for a Reg S deal. On the other hand, Lifestyle International Holdings has decided not to pursue its fundraising for the time being.

Chiyu Banking Corp is marketing its first international bond, following in the footsteps of its Chinese peers with a Basel III compliant additional tier one trade.

Consus Real Estate, the German real estate developer, has raised €200m by issuing a convertible bond today to continue its growth push.

Deals topping €1bn are becoming more common in the European leveraged loan market, pushing gross issuance to annual record levels. CeramTec announced the latest, with a €1.1bn leveraged buyout.

China’s Liaoning Fangda Group Industrial Co and BlueFocus Communication Group Co are meeting investors this week for their first international bond offerings. Huarong Real Estate Co, meanwhile, will hit the road for a euro deal.

Chinese lithium producer Tianqi Lithium Corp is bringing some diversity to the debt market with its inaugural offering of a dollar bond.

Chiyu Banking Corp and Orient Securities Co have mandated firms to run new dollar bond deals, with roadshows set to start on Monday.