Credit Suisse
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Philippine company SMC Global Power Holdings Corp returned to the dollar bond market for the first time this year on Wednesday, meeting strong-enough demand to boost the size of its deal and offer just a small premium. -
E-House (China) Enterprise Holdings tapped its 7.6% 2023 bonds for an additional $100m on Wednesday, bringing the total deal size to $300m.
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Zhenro Properties Group visited the offshore bond market for the fourth time in 2021 this week, adding another $340m to its coffers.
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Hong Kong-listed mining company MMG has tapped equity investors for HK$2.34bn ($302.2m) after boosting the size of the primary share placement.
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Times China Holdings, Yango Group and Greenland Hong Kong Holdings, all of which are real estate developers, raised $840m between them from the bond market on Thursday, continuing a recent revival in issuance from the sector.
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Santander and Barclays ended multi-year absences from the Swiss franc market to land a pair of senior deals flat to euros this week as funding diversification trumped arbitrage considerations.
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European banks are trying to lock in funding at longer maturities as they consider whether credit spreads have reached a low point. But demand is less certain at the long end of the market, and some investors are pushing for a higher premium to reflect duration risk.
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ABN Amro brushed aside concerns about the bid for long end paper on Wednesday, as it secured a tight spread on a 12 year deal in the euro market. It was joined by a couple of other banks targeting more conventional maturities.
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A favourable move in the basis swap allowed the Province of Quebec to return to the Swiss franc market after seven years away this week, landing its latest bond at a spread flat to its domestic curve.
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UBS Group made a swift return to the dollar bond market on Tuesday, as it went in search of an additional tier one transaction a day after raising $3bn of senior unsecured debt.
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Country Garden Services Holdings rode on strong institutional investor demand to raise $2bn from a combined equity placement and convertible bond issue this week.
