UBS

Agricultural Bank of China and Bank of China’s investment arm tapped the bond market on Thursday, joining a host of other issuers that also sought fresh funding.

Asia’s dollar bond market has been swamped with new deals this week. Thursday was no different, with corporate borrowers from Greater China alone raising just over $3bn between them.

Givaudan and Nant de Drance attracted big order books this week, driven by demand from asset managers, allowing both to price Swiss franc bonds through fair value.

Rating: Baa1/A-/A+ (issuer expected)

High grade corporate bond investors had their pick of crossover deals this week, with Inwit, Veolia and Cellnex offering trades on the periphery of junk ratings, with demand solid as risk appetite remains strong.

SMC Global Power Holdings Corp was one of the few Asian issuers outside of China to turn to the dollar market this week. The Philippine borrower attracted ample investor support, allowing it to raise more money than it had first planned.

Despite a year of turmoil, many bankers have a spring in their step, writes David Rothnie. They are rushing to get involved in the boom in special purpose acquisition companies (Spacs).

China Evergrande Group this week tapped the equity capital markets for HK$4.3bn ($554.9m), making its first primary share sale in five years. But the fundraising did not go as planned, with the embattled property developer nearly halving its initial target after investors called for a smaller deal. Jonathan Breen reports.

Four bond issuers from Greater China followed the Chinese ministry of finance into the dollar market on Wednesday, snapping up $1.4bn between them.

Asahi, Japan’s largest brewer, drew the biggest demand in the high grade corporate bond market on Wednesday, adding to the recent trend of issuers from the country getting a roaring response from investors in Europe.

China Evergrande Group’s stock price plummeted on Wednesday after the issuer slashed an overnight share sale to nearly half its initial target, raising HK$4.3bn ($554.9m).

A pair of European banks approached the euro senior market in different ways on Tuesday: Iccrea targeted a smaller pool of investors with its delayed callable debut, while BFCM went big with a blowout long 10 year.