HSBC
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Genius Auto Finance sealed a Rmb4.5bn ($651m) three tranche auto loan securitization trade on Thursday, setting the stage for a steady revival of the Chinese auto ABS market. -
The sustainable finance market changed dramatically in the first half of 2020, as participants responded to the Covid-19 pandemic with a wave of tailored bonds — but the second half could prove even richer, with innovations and new issuers coming.
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The UK Municipal Bonds Agency has enjoyed a successful sophomore effort in the bond market, printing £250m of 40 year paper for Lancashire County Council.
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HSBC Holdings has finished the process of switching $3.5bn of short dated senior debt for a pair of new issues, as it looks to smarten up its liability structure for the total loss-absorbing capacity (TLAC) standards.
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The International Finance Corporation has mandated banks to lead a 10 year dollar bond in what will be the fourth public sector borrower to sell a bond in this part of the curve this week.
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The UK Municipal Bonds Agency is in the market with a £250m no-grow 40 year bond on behalf of Lancashire County Council. Initial price thoughts indicate the yield will be substantially below the rate charged by the government's Public Works Loans Board — the usual source of finance for councils.
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ICBC Financial Leasing Co chose price over size for its first outing to the dollar bond market this year, but still managed to raise a larger-than-expected $900m.
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Hong Kong property company Hysan Development Co used a fixed-for-life structure for its $300m perpetual bond on Tuesday, taking advantage of the low interest rate environment to lock in pricing.
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KfW opened up a window for 10 year dollar bonds in the public sector market on Tuesday amid a rise in long-dated US Treasury yields with two more borrowers hoping to find similar success in the tenor on Wednesday.
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Santander UK has been quick to price a new deal in the US dollar market after its results, making a saving over the funding levels on offer in euros or sterling.
