Crédit Agricole

Hainan Airlines opened the books for a three year offshore renminbi transaction on Thursday, with investor demand reaching Rmb3bn ($481m) by late afternoon. The deal will be the first offshore RMB corporate bond to be listed, cleared and settled in Singapore.

Five FIG issuers took to the subordinated markets to take advantage of months of undersupply this week, with the results highlighting not just the feverish grab for yield but also just how far banks have come since the crisis of 2008 in building their capital levels.

BPCE is set, on Wednesday afternoon, to become the third French issuer to tap the senior market this week, opting for a five year as a change of tempo after two 10 year blowouts from French financials earlier in the week.

A jumbo $9bn project finance loan for Russian oil firm Gazprom is expected to be launched into syndication in the second half of this year, despite the raging Ukraine crisis that has locked many Russian borrowers out of the international loan markets.

Agricultural Development Bank of China (ADBC) has opted for a single two year bond for its latest transaction in the offshore renminbi market, breaking away from its history of multi tranche issues.

Crédit Agricole is set to price a blowout 10 year senior trade on Tuesday afternoon, the second oversubscribed deal in the maturity from a French bank this week.

Spanish property company Colonial has signed a €1bn loan and completed a €1.263bn capital increase.

Bankia is looking to push Spain’s recovery story another step forward, taking to the subordinated tier two market to raise loss absorbing capital as the bank nears the two year anniversary of its bailout by the Spanish government.

Nearly 80% of investors holding Brazilian pulp producer Fibria Celulose’s 2021 bonds have agreed to sell the notes back to the company as the company continues its attempts to become fully investment grade.

HSBC has lost a 17 year veteran of its private debt business to a rival firm in New York, GlobalCapital understands.

State Bank of India has closed its loan at $554.5m, managing to gather enough demand during syndication to increase its borrowing from the launch size of $390m.

Société Générale and Natixis felt the effects of the chilling environment in fixed income trading in their first-quarter results reported this week, but financing-focused Credit Agricole shrugged off the challenge to record a 3% revenue rise to €984m in its investment bank.