HSBC
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Asian Infrastructure Investment Bank is preparing to issue a global sustainable development bond as early as next week to finance its newly created Crisis Recovery Facility aimed at mitigating the economic impact of the coronavirus pandemic. -
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.
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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).
