Daiwa Securities
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Eurofima, Inter-American Development Bank and International Finance Corporation tapped their 10 year Kangaroo lines this week, raising a total A$180m ($136.8m), as Asian investors looked for yield from the Aussie market.
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Industrial and Commercial Bank of China’s Tokyo branch sold a Rmb500m ($73.8m) dim sum bond on Tuesday — the first offshore renminbi Pro-Bond to be sold in Japan. The transaction was a successful attempt at drawing attention from Japanese investors, with the issuer managing to save costs compared to its dollar funding, according to bankers. -
The European Bank for Reconstruction and Development is set to test the five year part of the dollar curve — a tenor not attempted by many issuers over the last few weeks — as a French issuer opted for the tried and tested three year maturity and a German agency was able to increase a deal at that tenor from its target size.
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Citic Group has become the first Chinese issuer to tap the Japanese yen market in 16 years, opening the door for borrowers from the mainland to access liquidity in the Samurai market.
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Taiwanese solar cell manufacturer Neo Solar Power has raised $120m from a zero coupon convertible bond backed by a standby letter of credit (SBLC). The deal was driven by a hefty fall in NSP’s stock price, pushing the issuer to redeem its outstanding notes early.
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Bank Nederlandse Gemeenten tapped an August 2026 bond for the sixth time this year, with investors focussing almost solely on the 10 year part of the Kangaroo curve.
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Bank Nederlandse Gemeenten printed $1.5bn of two year paper on Tuesday in a move which finishes off its benchmark activity for the year.
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Bank Nederlandse Gemeenten has kicked the week off with a long dated tap in euros and a mandate for a follow-up two year dollar benchmark, which will share Tuesday's market with two other dollar trades.
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Local outfit Myanmar Citizens Bank officially floated its shares on the Yangon Stock Exchange on Friday, the third ever listing on the YSX.
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A seemingly unstoppable flow of dollar issuance from public sector borrowers looks set to spill into next week, after a slightly undersubscribed deal early this week failed to dent sentiment for other trades.
