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HSBC

  • Mercialys, the BBB rated French shopping centre owner, launched a sub-benchmark bond with an eye-catching yield on Tuesday, wider than a simultaneous deal by Fiat Chrysler, which is crossover-rated. Syndicate bankers said trying to be precise about pricing and sentiment this week was more difficult than it had been for months.
  • Assicurazioni Generali and Uniqa Insurance are each looking at selling tier two capital from their green bond frameworks, using a quieter period in the new issue markets to explore more complicated and multi-faceted transactions.
  • CEE
    The Republic of Poland on Tuesday launched a three year euro bond, while Ukraine mandated banks for a 12 year dollar benchmark. Though bankers say the window is finally open for emerging market corporate issuance, there remains robust appetite for govvie debt.
  • Chinese property companies Times China Holdings and Golden Wheel Tiandi Holdings Co took a combined $470m from the bond market on Monday.
  • Agile Group Holdings, a Chinese property company, is planning to launch a HK$3.242bn ($418m) refinancing loan into general syndication in early July.
  • The European Bank for Reconstruction and Development (EBRD) hit screens with a $1bn three year on Monday.
  • Korean Housing Finance Corporation (KHFC) has launched its second social covered bond of the year in euros, setting the spread for its deal in the middle of its guidance range.
  • SSA
    Agence Française de Développement hit the market twice this week, taking advantage of the absence of competing supply to pick up cash in euros and dollars. Thibaut Makarovsky, head of funding and market operations at the agency, discussed the deals with GlobalCapital.
  • Asif Sherani and Souhail Mahjour are taking on additional responsibilities in HSBC’s debt capital markets syndicate team.
  • AMS, the Austrian sensor maker, failed on Friday to complete its €1.3bn bond issue in euros and dollars, and has been forced to postpone it a second time. The deal was originally priced on Thursday afternoon but execution was then halted by a rash of news reports at around the same time, alleging that its executives were being investigated over trading in the company's shares.
  • A host of Chinese issuers filed IPO applications with Hong Kong’s stock exchange this week as they rushed to get their documents in before the end of the quarter.
  • Swiss Re debuted in Asia this week with a S$350m ($251.67m) bond that established the European reinsurer in the Singapore market. It also paved the way for more issuance from the firm.