HSBC

United Hampshire US Real Estate Investment Trust (Reit) has wrapped up the international roadshow for its $323.6m Singapore IPO, boosted by investors' search for stability amid volatile markets.

Dubai Islamic Bank, which began roadshows over a week ago for a senior unsecured sukuk, has postponed the deal as a result of the Covid-19 virus, according to bankers near the deal. The spread of the virus has caused sharp swings in global markets, causing havoc in primary markets.

SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.

The only high yield bond deal being actively marketed in euros this week has been postponed. The deal was for Fugro, the Dutch company that provides geographical data and asset integrity services to onshore and offshore industries. It was a debut issue for a listed company with no sponsor involved, so there had been good interest, but market conditions just proved too difficult.

Three Chinese real estate developers braved a volatile market on Thursday, raising $800m as fears around the coronavirus continued to ravage secondary prices.

The Arab Republic of Egypt is set to become the first Middle East or North African sovereign to sell a green bond. But there are no “obvious suspects” for a follow-on deal, according to those in the market. While green bond issuance is taking root among the region's other borrower classes, the format has yet to grasp the attention of governments for whom, some say, the challenge of being greener is proving too great, writes Mariam Meskin.

The European Investment Bank (EIB) braved “horrendous” market conditions in order to print the first Sofr trade linked to the Federal Reserve’s index.

HSBC and Standard Chartered are expecting lower profits and higher loan impairments this year due to the Covid-19 coronavirus outbreak and an economic downturn in Hong Kong.

SBI Cards and Payments Services, a State Bank of India subsidiary, set the final price range for its IPO, putting proceeds of up to Rp103.5bn ($1.44bn) in reach for when it launches the deal next week.

Bank of China took Covid-19-linked bonds offshore on Thursday with a dual currency two year transaction, which was offered through its Macau branch.

United Hampshire US Real Estate Investment Trust has launched Singapore’s second Reit listing of the year. The deal comes as volatility around the world has brought many IPO markets to a halt, with investors looking for safe-haven opportunities. Jonathan Breen reports.

Conditions are changing so fast with the coronavirus epidemic that each day could bring a change in sentiment, but for the time being leveraged finance is staying calm and continuing to function. There is more activity in this high risk corner of Europe’s capital markets than in any other, apart from sovereign, supranational and agency bonds.