Japan

Mitsubishi UFJ Financial Group (MUFG) sold new five and 10 year senior bonds in euros this week, with only 9bp of difference between the final pricing on the two tranches.

The much anticipated G20 meeting between Chinese president Xi Jinping and US president Donald Trump in Osaka brought good news to Huawei, US farmers, US high tech companies, and Chinese stock markets. However, key conflicts remain unsolved.

Mexico showed that it still has full access to its regular funding markets this week as Japanese investors gave the sovereign its largest ever order book in the Samurai market, on the way to its largest deal in the currency.

Euro and dollar benchmarks issued by Nordea, Lloyds, Korea Housing Finance Corporation (KHFC) and SMBC on Tuesday was a fillip for covered bond market participants suffering through volatile credit market conditions that have caused price expectations to fall.

Securitization investors and traders have told GlobalCapital that CLO anchor investor Norinchukin Bank has taken a step back from both the US and European markets. As Tom Brown writes, some have suggested that the bank’s domestic regulator has voiced concerns about its surging holdings of senior CLO debt.

Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

SMBC has mandated leads for a roadshow with plans to issue its first dollar covered bond and the second in euros.

In this round up, the China Securities and Regulatory Commission (CSRC) gave permission for eastbound Sino-Japan ETFs, Shanghai Stock Exchange (SSE) set up a scheme for investors to trade defaulted or high risk bonds, and the head of the Chinese banking regulator warned traders of ‘huge losses’ if they shorted the renminbi.

Japan's Norinchukin Bank revealed in its full year 2018 earnings presentation Wednesday that it had grown its CLO holdings by 8.8% during the first quarter of 2019, although a look at its books reveals a bank that is aggressively pursuing yield beyond its borders.

Sumitomo Mitsui Financial Group issued a green senior bond on Wednesday and paid no new issue premium after it received demand of twice its final size of €500m.

The Republic of Indonesia raised ¥177bn ($1.6bn) from a six tranche bond sale in Japanese yen on Thursday, making it the largest public Samurai bond deal from an Asian country.

The European Investment Bank (EIB) has moved its new Climate Awareness Bond (CAB) documentation beyond the eurozone with the sale of a Polish zloty bond to a single Japanese investor.