HSBC
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Banco Sabadell cut a lone figure on Friday as it ventured out into a quieter market to print a €500m tier two — its first bond since the proposed merger with BBVA fell through last November, -
The UK Debt Management Office has chosen the banks to lead the sale of a new 25 year conventional Gilt via syndication, following support for this maturity by Gilt-edged Market Makers (GEMMs) and investors in a consultation at the end of November.
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Five Chinese corporate borrowers pushed into the debt market on Thursday, capping a frantic pace of deal flow this week that set a new record for Asia bond issuance.
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Bank of China sold its debut transition bond on Thursday, giving the still nascent market a big boost by opting for a dual currency dollar and renminbi deal.
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The dollar bond market made a fast start to the year this week, as investors showered Broadcom, the semiconductor maker, with $28bn of orders, enabling it to raise $10bn.
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Wessex Water, the UK utility, and National Grid this week proved that there is still demand for sterling corporate paper in a post-Brexit world, with both issuers seeing chunky oversubscriptions for their trades.
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State of North Rhine-Westphalia’s third and biggest century bond built an impressive order book in terms of size and number of accounts from a diverse range of investors this week, proving this niche part of the curve is increasingly popular with buyers.
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The European investment grade corporate bond market took a break for the Epiphany public holiday across the continent on Wednesday, but syndicate bankers say deals will flow thick and fast throughout early January.
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Non-preferred senior and holding company issuance was the focus for bank borrowers in euros this week, in what has been a slow start to the year by FIG market standards. With cheap central bank funding on offer, issuers have opted to start their funding programmes by filling their regulatory buckets.
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HSBC’s aims to boost market share in investment banking and rebalance towards Asia remain intact despite the resignation of one of its most senior lieutenants. But 2021 must be about execution, writes David Rothnie.
