HSBC

The Bank of England threatened to use its ‘supervisory powers’ on UK banks if they did not agree to suspend dividend distributions this year and stop paying cash bonuses to staff. The instructions do not apply to the equity-like CCDS instruments issued by building societies.

The primary corporate bond market in Europe threw up another blistering day on Wednesday, with seven issuers on screens by mid-morning, bringing the number of deals so far this week to 18, though bond syndicate desks are hesitant to compare this crisis market with the record-breaking issuance in 2009.

Viva China Holdings has bagged HK$1.51bn ($194.3m) after selling a block of shares in Chinese sportswear manufacturer Li Ning Co at the top of the marketed range.

Hong Kong's AIA Group has reopened Asia’s bond market for other quality credits by selling a $1bn deal that offered a generous new issue premium to attract investors.

The euro market for SSAs has returned to life in impressive style, but borrowers outside the ECB’s asset purchase programme are meeting with a chillier reception than their European counterparts.

Portugal will be hoping to mirror the success of Belgium after the latter smashed records in the public sector bond market on Tuesday with the biggest ever order book for an SSA borrower in euros. Both Portugal and Belgium have announced an anticipated increase to their 2020 funding programmes as result of the Covid-19 crisis.

Viva China Holdings is selling a chunk of stock in sportswear manufacturer Li Ning Co worth as much as HK$1.51bn ($194.3m).

HSBC has promoted two bankers internally to head up its capital markets business in the Middle East, North Africa and Turkey.

Airbus, the European aircraft manufacturer, opened books for a three tranche bond issue on Tuesday, just over a week after raising €15bn from banks, on the assumption, its CFO said then, that there would be "no issuance in capital markets, such as commercial paper".

The Nordic Investment Bank on Monday became the latest public sector borrower to use the capital markets to provide emergency financing in response to the coronavirus crisis. But rather than selling a conventional or socially responsible bond, the supranational has developed a new framework specially designed to tackle the pandemic.

CPPIB Capital hit the euro market on Monday, becoming the first SSA borrower not eligible for QE to access the market since the coronavirus outbreak shuttered the market. A fellow Canadian is set to follow suit.

Belgium has picked banks for a seven year benchmark, publishing the mandate just after joining the throng of sovereigns upping their funding requirements. Norway has also raised the size of its borrowing programme.