HSBC

A block sale in the shares of Kingboard Laminates Holdings hit the market on Monday evening as its parent and an affiliate looked to trim their stake in the company.

Why have Indonesian state-owned companies seen resounding success in the dollar bond market this year amid the pandemic? Morgan Davis finds out.

Indonesian high yield companies that had limited access to the international bond market this year due to the Covid-19 pandemic are now preparing for a challenging 2021 — unless sentiment gets a dramatic boost from the vaccine news. Morgan Davis reports.

Nobody will forget 2020 in a hurry. It was the year in which a coronavirus pandemic swept across the globe, created economic chaos and forced central banks into swift action. The resulting measures helped to underpin financial markets, bringing yields from record highs in March to record lows in December. But the outlook has always remained uncertain for banks and insurance companies, whose balance sheets are yet to feel the full impact of the crisis. In such a testing year, GlobalCapital wanted to reward the bond deals that achieved stand-out results for issuers — in terms of pricing, execution and timing. The winners are presented here.

Embassy Office Parks Real Estate Investment Trust has has raised Rp36.84bn ($500.9m) from an issue of new stock, according to a source close to the deal.

InterContinental Hotels Group has negotiated a waiver and relaxation on its loan covenants for the second time in 2020, as its leverage threatens to plunge its rating into junk territory.

HSBC's investment banking coverage team in Hong Kong will begin 2021 with some personnel changes.

The Prudential Regulation Authority has told UK banks that they are free to resume dividend and bonus payments from next year, though pay-outs will be subject to caps based on profits and risk-weighted assets.

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

The launch this week of the Climate Transition Finance Handbook has propelled the sustainable debt market towards a new era, in which the emphasis moves from a labelled security to the issuer itself, writes Jon Hay.

Two European banks ventured across the Atlantic this week to tap a dollar market that has remained open for business going into mid-December.

HSBC returned to the additional tier one (AT1) market this week after a two year absence. It was marketing a dollar deal that it intends to use to fund the redemption of some of its outstanding preference shares.