Banks

India’s Tata Motors was dealt a blow by the market on Wednesday, as it was forced to contend with protests in Hong Kong as it tried to sell a dollar bond.

China Merchants Commercial Real Estate Investment Trust has kicked off a pre-deal investor roadshow for its Hong Kong SAR listing. It is set to break a six-year drought of Reit IPOs on the bourse.

French car parts maker Faurecia has gone against the headwinds buffeting the industry, cutting financing costs with its latest refinancing round. A number of other well known high yield borrowers are also rushing into the market before Christmas to switch their higher coupon paper into cheaper alternatives.

National Express printed a £250m nine year bond at what looked like a zero concession to its curve on Wednesday, overcoming some sharp moves in the Gilt market.

Temasek, the Singapore government investment arm, launched 12 and 30 year euro bonds on Wednesday, a day after announcing its mandate.

Demand for ground-breaking covered bonds issued on Wednesday by Deutsche Bank and Danish Ships Finance was adequate but both required hefty premiums — illustrating a higher degree of investor caution than had been expected.

Italo, the Italian high speed rail operator, has signed a €1.1bn green loan, in what tit says is the biggest ever product of that stripe in its home market and the largest ever in the transportation sector globally.

The Arab Republic of Egypt had clocked up more than $9bn of demand for its triple tranche bond trade by lunch time on Wednesday.

One Middle Eastern bank is in the market with a sukuk additional tier one note, while a second announced it will go on the road for its own AT1.

La Banque Postale shied away from hitting the bottom end of the guidance pricing range for its debut additional tier one (AT1) on Wednesday, after losing about half of its order book during the sales process.

Lloyds Banking Group marketed an additional tier one in the sterling market this week, making use of favourable conditions. The lender was “quite an attractive credit” in an undersupplied market, according to analysts.

Scottish Mortgage Investment Trust is selling US private placements, some 18 months since its last outing in the market.