HSBC
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Singapore’s CapitaLand, a real estate giant, has raised a total of S$400m ($283m) from two bilateral green loans, giving a further boost to its sustainability financing credentials. -
HSBC has overhauled the structure of its global banking business for the second time in as many years in a push to cut costs and bring its commercial and investment banking divisions closer together.
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Greece is looking to become the latest eurozone sovereign to sell a seven year syndicated bond, after mandating banks on Tuesday for the transaction.
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France’s La Poste saw almost €14bn of demand for its dual tranche trade on Tuesday, with the state-owned postal service kick-starting the shortened week in style with borrowers expected to start exploring issuance down their capital structures.
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Dutch port operator Royal Boskalis Westminster has refinanced a €500m revolving credit facility, as analysts warn that the coronavirus pandemic could see world trade plunge by as much as 34%.
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South Korea's Shinhan Bank raised $500m from a Formosa bond on Wednesday, taking advantage of the strong interest from Taiwanese investors for its transaction. The borrower paid just 20bp in new issue premium.
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Agence Française de Développement (AFD) was the latest public sector agency to head to the euro market this week as it raised €1.5bn on Wednesday with a 10 year benchmark. While the deal was fully subscribed, the order book was not huge and the pricing did not tighten from guidance, indicating that the market may be slowing.
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The State of Qatar and the Emirate of Abu Dhabi looked to sell bonds this week in the wake of extreme oil price volatility that has left commodity exporters with fragile fiscal positions.
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Shares in UK online fashion retailer Asos rose by more than 30% on Wednesday after the company completed a £247m ($339.46m) share sale to shore up its balance sheet during the Covid-19 crisis. The rise reflects investor confidence that the fashion retailer will endure disruption from the pandemic causing a sharp drop in demand for fashionable clothes.
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The top tier of emerging markets sovereigns are cramming into this week’s issuance window, as Abu Dhabi followed Qatar’s Tuesday blowout with a triple tranche bond deal of its own.
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The Republic of Indonesia raised $4.3bn from a triple-tranche bond this week, making quick progress in its effort to fund a fiscal stimulus package that it hopes will soften the damage of the Covid-19 pandemic. Morgan Davis reports.
