Standard Chartered

Two supranationals are set to hit the market for their first dollar benchmarks of 2021 on Wednesday.

Saudi Arabia’s National Commercial Bank (NCB), the largest financial institution in the kingdom, has mandated banks to arrange a tier one dollar sukuk. The deal may act as a prelude to a potential bond sale by the sovereign, which bankers say could happen as early as this week.

BMW Automotive Finance (China) Co has sold its first auto loan ABS of 2021, locking in longer-dated financing with a 14 month revolver. The deal added to a strong start for the onshore securitization market in the New Year as bond yields fell from their highs at the end of 2020, writes Addison Gong.

The Sultanate of Oman's return to debt markets is proof to some that the market is wide open for high yielding emerging market issuers. The sovereign mandated banks for a dollar deal as investors, hunting for yield, appear undeterred by volatility in the US rates market.

Europe’s high grade corporate bond market is showing no signs of slowing down, with new issues again breezing through fair value.

Zurich Insurance Company attracted plenty of demand in dollars on Tuesday, as it sold first subordinated dollar trade in over two years — a deal that could fund its acquisition of Metropolitan Life’s US property and casual business.

Korea Development Bank returned to the bond market on Monday with a three-tranche transaction, marketing one of the notes with a green label. Despite pricing its trade at one of the tightest levels seen among the country’s lenders, the borrower still received strong demand.

Vietnam’s Masan Group Corp is inviting lenders to join an up to $250m loan to support an investment into one of its subsidiaries.

Huhtamaki, the Finnish food packaging company, has refinanced a €400m facility, with the borrower becoming the latest to add sustainability metrics to its main bank line as an EU ban on single-use plastics comes into force.

Five Chinese corporate borrowers pushed into the debt market on Thursday, capping a frantic pace of deal flow this week that set a new record for Asia bond issuance.

Chinese originator Home Credit Consumer Finance Co sold a Rmb1bn ($155m) consumer loan ABS this week, opting for a different type of underlying assets compared to its past deals.

Yankee issuers stormed into the US dollar market to lock in record low levels of funding, despite this week’s turmoil in Washington, DC.