HSBC

Indian private sector lender Axis Bank has lined up four European banks for an equity sale that could raise up to Rp150bn ($2bn), according to a source close to the deal.

Coventry Building Society (CBS) is racing to price Economic Master Issuer 2020–1, with the help of arrangers HSBC and Lloyds, to meet the huge demand for the deal, which is a hybrid between a master trust structure and a standalone RMBS — the first of its kind. The transaction, set to herald the next step in master issuer structures, is an innovation which could open the door to more financial institutions committing to long-term RMBS programmes, writes Tom Brown.

Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent dual-currency deal.

Franck Lacour is taking over HSBC’s equities business, with Hossein Zaimi leaving the bank. In Hong Kong, Selene Chong will take on new responsibilities in the equities business.

ICBC International Holdings found a positive window to sell a five year bond on Tuesday, riding the uptick in market sentiment to price a $700m transaction inside fair value.

A small deal size and investment grade ratings worked in GS Caltex Corp’s favour on Monday, allowing the South Korean oil refiner to price a tight $300m bond.

KfW will lead the charge in the euro public sector bond market on Tuesday with a €3bn green bond that will match its biggest ever deal in the format. Eurofima and the State of Berlin are also preparing to bring bonds to the euro market.

India’s Yes Bank ended its Rp150.2bn ($2bn) share sale without enough demand to cover the deal, after a low turnout from individual investors.

Hexaware Technologies, an Indian software company majority owned by Baring Private Equity Asia, has mandated nine banks for a $600m take-private loan.

Eurocontrol, the Belgium based European aviation trade body, has signed a €272m term loan, with the money earmarked for providing liquidity to the aviation industries of member states that have been hit hard by the coronavirus pandemic.

Chinese property company Agile Group Holdings has launched a HK$3.242bn ($418m) refinancing loan into syndication.

Philippine company Globe Telecom raised $600m from a dual-tranche deal on Thursday, with investors attracted to the firm’s sector of operation.