HSBC
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Citic Securities Co returned to the offshore market with a $700m dual-tranche transaction. The deal included a five year bond, a rarity from a Chinese securities house in recent years. -
HSBC’s plan to develop its UK equities and corporate broking business remains intact, despite its decision to review its global equities business.
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Bank of America became the first big US bank to emerge from third quarter earnings blackout and tap the dollar bond market this week.
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Finnvera stormed through its second — and probably final — syndicated trade of the year on Wednesday as it received a twice subscribed order book that allowed it to tighten the spread by 2bp.
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Investors jumped on the opportunity to buy euro bonds with a positive yield in the public sector market this week as KfW and Kommunalbanken sold 15 and 10 year bonds respectively, with the latter returning to the currency for a benchmark for the first time since 2017.
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The Emirate of Sharjah shrugged of any concerns about broader volatility in emerging markets on Wednesday, to price a 10 year sukuk flat to its curve.
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Kommunalbanken was almost twice covered for its 10 year euro trade on Thursday as it returned for its first benchmark in the currency since 2017.
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La Mondiale gave investors a rare chance to put money in restricted tier one (RT1) ranks this week. The bond was oversubscribed by more than 10 times but the insurance company paid a hefty premium to do the deal, according to one source away from it. However, one of the leads disagreed and said the bond was priced “probably inside fair value”.
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Chinese central government-owned China National Travel Service Group Corp (CNTS) made a quick return to the dollar bond market this week, extending its maturity profile with a $600m dual-tranche transaction.
