HSBC
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Monday started on a quiet note for Asia’s bond market, with Indonesia’s Asahan Aluminium (Inalum) the only issuer to venture out. While deal windows are open, bankers say that borrowers are taking it slow. -
HSBC Canada issued the most oversubscribed dollar-denominated Canadian covered bond in years on Thursday, and still managed to price 28bp tighter than the Canadian heavyweights.
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The Kingdom of Bahrain moved emerging markets’ bond recovery beyond top tier issuers on Thursday as it printed a $2bn dual tranche dollar trade that raked in $11bn of demand.
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Hong Kong-based Sun Hung Kai Properties has tapped the international debt market for the third time this year, raising $500m from a 10 year bond on Wednesday.
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China Petrochemical Corp (Sinopec) priced a $3bn bond through its curve on Wednesday after investors flocked to the triple-tranche transaction, leading to a peak book of $23bn.
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The Kingdom of Bahrain has mandated banks to arrange a dual tranche bond transaction that is set to test the depths of Gulf Cooperation Council (GCC) recovery in EM bond markets.
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Morgan Stanley Investment Management makes two SRI hires — Citi appoints Aby for CEEMEA markets — Callaghan joins HSBC for UK M&A
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New issue premiums evaporated in the high grade corporate bond market this week, with multiple issuers printing well through their curve as the world begins to emerge from pandemic lockdown.
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Issuance in the financial institutions bond market had a preferred senior flavour this week, with issuers finding this the most cost-effective funding compared with other asset classes. In addition, some of them can use it to fulfil regulatory requirements.
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Instituto de Crédito Oficial (Ico) was almost seven times covered for its four year Covid-19 social bond on Wednesday, as investors continue to support deals to tackle the pandemic. The European Stability Mechanism could follow with a similar maturity next week, after it sent banks a request for proposals (RFP).
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Germany smashed its return to the syndicated bond market on Wednesday with its biggest ever order book and deal in the format, which was priced flat to fair value at the final spread, according to the leads.
