HSBC

GlaxoSmithKline, the UK pharmaceutical company, launched a three tranche bond issue on Monday. Its sterling curve was trading so flat that it started with the same spread on the long eight and 15 year tranches.

QBE sold $500m of additional tier one debt in the dollar market this week, as it sought to shield itself from the financial impact of the coronavirus pandemic.

Jacques Callaghan, formerly of Macquarie Capital, has joined HSBC as head of UK mid-market M&A, concentrating on a wedge of companies that are important to the bank’s new strategy.

Luxshare Precision, a Chinese designer of cable assemblies, has launched a $500m loan into syndication, hiking up the margin on offer due to changing market conditions caused by Covid-19.

The UK Municipal Bonds Agency has announced the two first councils that will take part in its pooled issuance scheme, although the bonds themselves may well not be issued before the summer.

The UK Debt Management Office has chosen the banks to lead what will be the first of an unprecedented two syndicated offerings in a single calendar month as it prepares to finance a substantial increase in its borrowing requirements.

Corporate bond bankers expect May to be a blockbuster month, as syndicate officials say that coronavirus pandemic fatigue has set in and the market has stopped worrying about it.

Signify, the Dutch lighting company, got roaring demand for its acquisition bridge takeout bond on Thursday — its maiden issue — as it tempted investors with an eye-catching initial spread.

The UK’s RPS Group, a professional services consultancy firm, has signed a £60m short term revolving credit facility that sits alongside its main bank revolver, as borrowers continue to build their access to liquidity in the face of the Covid-19 pandemic.

Pension Insurance Corp was almost 12 times subscribed for a new tier two capital bond on Thursday, after following some of its UK peers into the sterling market amid a busy pipeline for new pension risk transfer deals.

The high grade corporate primary market was receptive to issuance again on Wednesday, as syndicate bankers predicted this would bode well for what is expected to be a blockbuster May.

Hong Kong's Wharf Real Estate Investment Company (Wharf REIC) raised $750m from a dual-tranche bond on Tuesday. The issuer was able to take more than it initially intended, while paying a small new issue premium.