Daiwa Securities

The European Investment Bank will re-open the euro public sector bond new issue market for the last funding period of the year. Further issuers are expected to appear this week, trying to get in before the European Union’s giant borrowing programme begins.

South Korean investment bank Mirae Asset Daewoo Co raised a $600m bond this week, but had to navigate questions around the stability of its rating and credentials to get past the finish line.

While bankers in the Northern hemisphere plan well-deserved summer breaks, the Australian and New Zealand dollar markets are set to remain open for business, with some competitive pricing on offer.

Caisse des Dépôts et Consignations issued its yearly Samurai bond on Thursday, raising ¥20bn ($190m) with a dual tranche.

Deutsche Bahn tapped the Kangaroo and Swedish kronor markets on Wednesday after having spent the first half of 2020 focused on the euro market.

The Republic of Indonesia returned to the yen market this week for its annual Samurai bond outing, raising ¥100bn ($930m).

Smoore International Holdings, the world’s largest vaping device manufacturer by revenue, has opened books for a HK$7.12bn ($919m) IPO.

Daiwa Capital Markets has hired Chris Hill, former EMEA head of MTNs and structured notes at Barclays, to cover for Jez Walsh, SSA syndicate head, who has taken a leave of absence.

Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.

Finland’s Municipality Finance returned to the domestic New Zealand dollar bond market on Friday after a long absence, to raise its largest Kauri bond since 2008.

Four public sector borrowers hit the dollar market on Wednesday, including a rare seven year deal from new issuer International Development Association (IDA).

The European Investment Bank raised $5bn with a three year global benchmark on Tuesday, setting the stage for fellow SSA borrowers to tap the dollar market later in the week.