United States

Investors in green corporate bonds had two very different deals offered to them on Tuesday. Spanish utility Iberdrola sold a green hybrid bond, while Toyota Motor Credit Corp, Toyota’s auto finance subsidiary, offered a long 3.5 year green tranche alongside a seven year non-green tranche.

HSBC will speak to investors from Tuesday about its new sustainable development goal (SDG) bond framework, with a deal expected to follow.

LexinFintech Holdings is the latest Chinese online consumer lender to file for an IPO in the US, picking Nasdaq for a $500m listing.

After a long rally in US high yield credit, concerns over tax reform, weak earnings and merger struggles sparked a $2bn outflow from funds tracking the sector last week. Two energy issuers pulled deals during the week, but that did not stop three energy issuers stepping back into the market on Monday.

The dollar bond market was brought crashing down from its high this week, after a poorly received trade from Apple on Monday sent investors scampering to the sidelines in one of the busiest weeks of the year for supply. Oracle restored some order and Johnson & Johnson (J&J) bucked the trend later in the week, but UPS still found the going tough when it came to market on Thursday.

European investors are becoming accustomed to US corporate issuers visiting the euro bond market. The hot market this week drew three such companies to issue.

The trend for corporate issuers in Europe in 2017 has been to sell bonds with longer tenors. However, among this week’s deals were three short dated floating rate notes, which all garnered huge demand.

The International Swaps and Derivatives Association on Thursday revealed that it is once again accepting applications for the role of Determinations Committee secretary, a body that carries out administrative duties for credit derivatives committees.

Leveraged loan issuance is set to outpace sales of new high yield bonds with a surge this year, pushed by a varied array of borrowers seeking not just tighter margins on old debt, such as US chemical group Angus this week, but also funding for acquisitions, as with Nordic travel operator Etraveli.

Two US flotations of Chinese firms raised $686m this week, after one was priced in the middle of the range and traded down, while the other was set to make its debut on Thursday.

Korea Electric Power Corp has hired three bookrunners to run an investor roadshow ahead of a potential dollar-denominated green bond issuance as it looks to build a renewables portfolio in the US through acquisitions.

Analysts expect US chipmaker Broadcom to tap as many funding markets as possible to finance its $130bn takeover of Qualcomm. Up to $12bn is likely to come from the loan market alone.