Banks
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A flexible approach allowed Shangri-La Hotel to tap into the Singapore dollar bond market on Thursday for S$825m, a rare outing that helped it stave off pressing loan liabilities. -
Changchun Urban Development & Investment Holdings (Group) Co leveraged on its positioning as a key infrastructure investment and construction company for the local Chinese government to woo investors to its $400m bond return on Thursday.
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Credit Suisse made a bold claim in its third quarter numbers — to topping the table for improvement in advisory and capital markets since it started its restructuring in 2015. But despite the investment banking momentum, the bank’s shares slid on Thursday as it reported a loss in its global markets business.
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Green bond bankers believe the Dutch government’s decision to issue its first green bond next year will encourage other borrowers in the country to follow suit — even though many of the large bond issuers have already done so. They are speculating about whether the government might break its long habit and syndicate the bond — and also hope it will use the opportunity to set a template of best practice, writes Jon Hay.
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A megayacht of a trade from KfW this week suggested that potential headwinds — including the end of quantitative easing, Italy’s reckoning with the European Commission and Angela Merkel’s plan to step away from politics — are failing to sink sentiment in the euro market. But some SSA bankers warned that the trade was more just proof that KfW can float in these conditions — and that an upcoming deal for the European Financial Stability Facility (EFSF) will be a better buoy for the sector’s currents.
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