CREDIT DAYBOOK AMERICAS: Foreign Firms Set to Drive Issuance

Overseas firms are liable to be key issuers of US corporate bonds in coming days with the start of second-quarter earnings season next week and many potential US borrowers remaining in blackouts.

• Foreign companies are expected to make up a sizable chunk of this week’s projected $15 billion to $20 billion of investment-grade note issuance
  • South Korea’s Shinhan Financial has the US market’s first investment-grade dollar bond in a week while a unit of Japanese telecom giant NTT has mandated banks ahead of a possible offering in both dollars and euros
  • The past two weeks have seen overseas borrowers make ...