Deutsche Bank
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Issuers in the financial institutions bond market do not want to see the chance for cheap funding slip, so more are lining up deals. On Monday, Landesbank Hessen-Thüringen (Helaba) mandated leads for a preferred senior bond in euros, and UK insurer Utmost International said it was aiming for an senior unsecured bond in sterling. -
Vietnamese conglomerate Vingroup Joint Stock Co and its automobile subsidiary VinFast have launched a $500m loan into general syndication, after one bank joined at the senior stage.
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Serbia has returned to the euro market after only four months, tapping the line it opened in June this year and raising cash to refinance dollar obligations it faces in 2020.
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BBVA and DNB Bank were both looking to build towards their minimum requirements for own funds and eligible liabilities (MREL) in the euro market on Thursday, eschewing non-preferred senior issuance in favour of the cheaper preferred senior format.
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Chinese hotel company Huazhu Group has launched a roughly $1bn loan into general syndication, raising the money in part to help fund an acquisition of a German rival. But bankers are debating whether the borrower should be treated as a real estate company. Pan Yue reports.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after 15 years away. The bond is expected to encourage Chinese issuers from across the credit spectrum to tap the euro market, writes Addison Gong.
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China’s Ministry of Finance has raised €4bn from a three tranche deal, returning to the euro market after a 15 year layoff. Bankers think the deal will encourage Chinese issuers from across the credit spectrum to come to the euro market.
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Kaisa Group Holdings and Greenland Holding Group Co joined a slew of Chinese real estate companies to rush to the offshore market this week, using up the remainder of their regulatory quotas.
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A flurry of new deals this week had issuers having to compete for investors’ attention. Bankers said that higher yielding deals were much easier to sell, with non-preferred senior bonds from Bankia and Lloyds Banking Group proving more popular than a tighter print from Belfius.
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Serbia has returned to the euro market after only four months, tapping the line it opened in June this year and raising cash to refinance dollar obligations it faces in 2020.
