Banks

Longhurst Group has signed a £100m revolving credit facility, as the UK’s social housing sector finds plenty of support and increased competition from lenders for their business.

Market participants say that secondary spreads of emerging market loans are compressing as activity draws to a standstill, amid signs of slowing global growth and the threat of trade wars.

Medicover is on the hunt for at least €100m of funding in the Schuldschein market. The Swedish healthcare company joins a growing number of Nordic borrowers looking to tap the German loans market.

Fujian Zhanglong Group Co skirted the market volatility last week to seal a $500m deal on Friday, using up its regulatory offshore quota.

Deutsche Pfandbriefbank announced on Friday that it is planning to meet investors in the sterling market next week to gauge appetite for a possible senior preferred bond.

India’s Yes Bank has raised Rp19.3bn ($271.2m) after issuing a block of primary shares.

Housing Development Finance Corp has made a quick return to the syndicated loan market for a $200m borrowing, five months after it sealed a Samurai loan.

Local government-owned Shandong Guohui Investment Co made a quick comeback to the dollar bond market to raise $300m on Thursday, when its Chinese peer Qingdao Jimo District Urban Development Investment Co made its offshore debut.

The US corporate bond market continued to crank out investment grade deals despite fears of a global recession battering risk assets this week.

An impressive rally in Italian risk assets has been completely overturned this week, as Italy descended into political chaos. Some market participants now fear a repeat of last year, when Italian issuers were frozen out of debt and equity markets as the country’s government fought with the European Commission over its annual budget targets. Tyler Davies and Sam Kerr report.

Market participants are confident that FIG issuance will pick up next week but there are concerns around secondary performance. They are likely to pay close attention to how this week’s deals from Goldman Sachs and Credit Suisse fare before marketing their own.

HSBC’s chief executive was dislodged by the force of the challenges facing the bank. Now, its global markets division is under pressure as senior management continues with reform, writes David Rothnie.