HSBC
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Chinese car manufacturer Great Wall Motors has paid up for its return to the loan market for a $440m-equivalent dual-currency deal. -
FMO may lower its 2020 funding target when it reviews its borrowing plan after the summer, which could lead to a postponement of a planned dollar benchmark to next year. The Dutch development bank made a strong return to the issuance of subordinated debt this week ahead of a call date in December of its previous deal in the format.
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Dalata, the Irish hotel group, has amended its main revolving bank facility to increase the size to €364m and take a break from covenant reporting. Loans bankers say the hospitality industry will still need more concessions from lenders, despite starting to reopen across Europe.
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Thai oil and gas company PTT Public Co sold the first 50 year bond from an Asian corporation on Thursday, raising $700m from a tightly-priced deal.
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Following the sale of its third syndication of the year this week — a €3bn inflation-linked bond — France does not expect to bring any more public benchmarks in 2020.
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Unédic came to the market for its third social bond on Thursday after making its debut in the format less than two months ago. The deal extends the French agency’s social curve out to 15 years and completes its €10bn explicitly guaranteed funding allowance for 2020.
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Insurance companies saw a favourable window of opportunity this week to sell subordinated debt. Assicurazioni Generali, Crédit Agricole Assurances and CCR Re benefited from the supportive backdrop to raise tier two bonds.
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France hit screens with a 15 year inflation-linked bond on Wednesday, raising €3bn with its first syndicated linker since 2018, capitalising on growing demand for inflation-linked products.
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CCR Re, the French reinsurer, debuted in the bond market with a tier two on Wednesday, executing a strong transaction on the back of intensive investor engagement combined with favourable market conditions.
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Central and Eastern European commercial real estate operator NEPI Rockcastle issued a green bond on Tuesday, attracting new investors to its debt.
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Delivery Hero, the German online food ordering marketplace, has returned to the equity-linked market six months after its debut to issue a jumbo €1.5bn dual-tranche convertible bond to fund M&A opportunities.
