Deutsche Bank

HSBC and Santander UK found strong demand for senior bonds issued from their holding companies this week, revealing an opportunity for more deeply subordinated supply such as Nordea’s tier two benchmark.

Saipem, the Italian oil services company, on Thursday priced €1bn of unsecured bonds in a high yield market still looking at a thin pipeline.

Malaysian sovereign wealth fund Khazanah Nasional threw open Asia’s equity-linked market this week, issuing a $398.8m exchangeable sukuk to much fanfare. The deal has revived Khazanah’s presence in the market and comes two years after it struggled to pull off a similar transaction. Jonathan Breen reports.

Luxembourg-headquartered Armacell has launched a repricing request on its €445m term loan ‘B’, following Blackstone and Kirkbi’s acquisition of the foam insulation manufacturer from Charterhouse earlier this year.

Santander UK issued a highly oversubscribed senior unsecured euro benchmark from its holding group entity (holdco) on Thursday with virtually no concession, further illustrating the market’s desperate thirst for this higher yielding asset class.

First-timer Far East Consortium International found markets plane sailing on Wednesday, managing to raise $300m thanks to no other high yield names distracting investors.

Big bids from across Europe allowed Slovenia to tighten pricing by more than 10bp on its euro market return on Wednesday.

German pharmaceutical company Cheplapharm Greifswald is in the market for a €95m Schuldschein which the family-owned firm will not grow beyond the launch size.

Slovenia became the first central and eastern European name to tap the core currency markets after the summer lull on Wednesday with a reopening of its €1bn March 2035s.

Just a day after DBS sealed a $750m deal from a Basel III compliant additional tier one note, the bank capital market has seen some fresh action with United Overseas Bank eyeing a tier two offering.

Royal Industries Indonesia, which failed to pay the first principal instalment of a loan borrowed in June 2015, has asked banks for additional funds to help resolve its liquidity problem.

Lanka Orix Leasing Company has tapped two banks to lead its debut offering in the international bond market. The Sri Lankan firm is set to hit the road from Thursday.