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HSBC

  • Hyundai Capital Services used the green label on its dollar bond to its benefit when hitting the market on a relatively volatile day, managing to find about $4.75bn of demand for a $600m transaction.
  • Singapore’s ride hailing start-up Grab Holding has further increased the size of its term loan B to $2bn following solid traction in the US market.
  • Liberty Mutual gave US institutional investors their first chance to pick up subordinated paper with a fixed-for-life coupon in the 144A market this week. Bankers say the issuer may have found a new pool of demand for the product, which has traditionally been reserved for retail channels.
  • Moonpig, the UK online greetings card company, is increasing the size of its IPO and pricing the deal early after a deluge of orders for stock from investors.
  • Bank of China Hong Kong has sold the first Yulan bond, a new asset class that was only launched in December, raising $500m from the market. But the deal saw limited interest as investors come to grips with the product.
  • Hong Kong's Airport Authority used a 144A format to expand its investor base and find a new pocket of liquidity this week. It got a strong reception from the US for its $1.5bn bond.
  • Brookfield Asset Management is set to launch India’s third real estate investment trust IPO next week, as it aims to raise Rp38bn ($520.8m) from a mix of new and existing stock.
  • HSBC appoints two within AIBC — Credit Suisse Asset Management hires head of origination in direct lending — Richard Luddington joins Rothschild
  • Steven Wirth is joining HSBC to head real asset fund coverage, and Giulio Hoffmann is to jointly lead power, utilities and renewables (PURE) for Europe, the Middle East and Africa.
  • Cathay Pacific Airways has sold the largest convertible bond by a Hong Kong issuer in over a decade, raising HK$6.74bn ($869.4m).
  • Hong Kong’s government returned to the green bond market with a $2.5bn triple-tranche deal this week, making the most of growing investor demand for sustainable investment opportunities. Morgan Davis reports.
  • Tencent Holdings is testing bank appetite for a jumbo loan of $6bn as it gets ready to once again shun syndication in favour of a club deal. But the razor-thin pricing on offer is likely to pose a challenge — as will a recent crackdown on some of China’s largest technology companies. Pan Yue reports.