HSBC

Chinese car manufacturer Geely Automobile Holdings came out with its first perpetual deal this week, raising $500m while paying a small premium over its outstanding senior bond.

China Construction Bank, the largest originator of Chinese RMBS, wrapped up a Rmb11.52bn ($1.64bn) four tranche deal on Wednesday. It was just the latest of a regular series of mortgage-backed deals from the bank — but this time, it doubled-down on marketing to foreign investors.

SBI Cards and Payment Services filed listing documents with India’s regulator this week for an IPO of up to Rp95bn ($1.33bn). The deal is on track to be the largest listing the country has seen for more than two years, writes Jonathan Breen.

Dalian Wanda Commercial Management Group Co, a subsidiary of Chinese conglomerate Dalian Wanda Group, raised a larger-than-expected $400m bond at a premium, amid media spotlight onshore on a member of the family that owns the firm.

HSBC has hired Eddie Wong as a director of loan syndications for Asia Pacific, according to a source close to the move.

Merlin Properties, the Spanish real estate investment trust, launched on Wednesday a €500m no-grow 15 year benchmark bond, rated Baa2/BBB, with a positive outlook from S&P Global.

Spain’s FCC Servicios Medio Ambiente and Deutsche Telekom raised euro bonds on Wednesday, in what corporate bond bankers reckoned was the last clear issuance window of the year.

Bank of Nova Scotia returned to the sterling market for the first time in more than a year on Wednesday, when it sold its first total loss-absorbing capacity (TLAC) compliant senior bonds in the currency a day after reporting its full year results.

Islamic Development Bank took €1bn out of the euro market on Wednesday, as it made its green sukuk debut with investors.

Thailand’s state-owned PTT Exploration and Production Public Co ended a two-year hiatus from the offshore bond market this week with a $650m deal, taking advantage of the low rate environment to extend its maturity profile to 40 years.

China deepened its dollar debt curve on Tuesday with a $6bn jumbo bond. With its biggest dollar deal yet, the sovereign has set a new benchmark for issuers from the country.

HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.