Asia Pacific
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◆ Borrower gets strong reception after waiting out Fed meet ◆ Books sticky with minimal attrition ◆ Some concession needed, but less than on other recent auto deals. -
Swiss investors retain appetite for credit as yields become more attractive
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Hong Kong dollar and offshore renminbi bid returns, while dollar callables lose momentum
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◆ EIB back in euros after three months ◆ 'Huge demand' leads to unusual spread move ◆ Steep curve from five to long five years
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The Reserve Bank of India's subsidised window for raising foreign currency borrowing has accelerated the country's banks' dollar issuance blitz
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◆ Euro deal comes swiftly after sterling appearance ◆ Issuer rarity aids both deals' success ◆ Euro leg losses chunk of orders but ends with similar book to earlier European bank deals
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Cost of printing a five year bond has fallen a long way since October
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◆ Japanese issuer returns for third time in euros ◆ Lures investors wanting to diversify with large but uncommon issuers ◆ Higher spreads and IPTs than recent European banks
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◆ Predictions for Gulf issuance change shape again ◆ Investment grade firms to pick tricky path through autumn ◆ The Alphabet effect: hyperscalers hit Kangaroo market
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Hyperscaler's record debut was a coup for the Aussie bond market, but such large trades risk crowding out smaller borrowers
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◆ Issuer pursues new objectives compared to previous holdco outing ◆ Investors increasingly bullish on Japanese credit ◆ Higher premium paid on long tranche
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◆ Issuer slings third Singaporean covered of the week into the market ◆ Pricing tight to secondaries ◆ Sterling covered volumes boom thanks to offshore funders
