HSBC
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CPPIB Capital underwhelmed with its return to the 10 year dollar market on Tuesday, giving further evidence of slowing demand following a string of trades in this part of the curve in recent weeks.
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France’s Unibail-Rodamco-Westfield has set final terms on a €750m trade, with the commercial real estate firm ramping up the size while whittling away at the spread to around a single digit new issue premium.
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Rabobank shrugged off a little price sensitivity this week to launch a green non-preferred senior bond at a spread that FIG bankers said was as much as 5bp through fair value.
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Royal Bank of Canada was able to raise £400m of senior funding as though it was on 'autopilot' in the sterling market this week. It is the third Canadian issuer in a month to seek funding in this currency counting as total loss-absorbing capacity (TLAC).
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Vietnamese dairy producer NutiFood Nutrition Food Joint Stock Company has postponed a planned three year dollar bond, but said it has not given up hope of returning to the debt market later.
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China Jushi, which makes fibreglass, is seeking a $150m debut borrowing through sole mandated lead arranger and bookrunner Standard Chartered.
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Mapletree Logistics Trust is issuing a block of new shares to raise around S$250m ($183.6m) from investors.
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CPPIB Capital has begun marketing its first 10 year dollar bond in two years as it looks to become the latest public sector borrower to visit this part of the curve, despite the underwhelming demand for World Bank’s trade last week.
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Landesbank Baden-Württemberg (LBBW) met investors this week to discuss a debut sale of additional tier one (AT1) bonds. Changes in regulation are prompting issuers to seek new deals in the asset class to optimise their capital layers.
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Middle Eastern shopping mall developer Majid Al Futtaim is holding investor calls this week as it eyes another green sukuk deal.
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German home improvement and garden supplies chain Hornbach issued €250m of senior unsecured notes on Thursday, for a coupon of just 3.25%. While the retail sector in general makes investors wary and Germany is lurching towards recession, investors showed confidence in the home improvement market.
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Health and Happiness International Holdings, Yibin Emerging Industry Investment Group Co and CCB International were among those which priced dollar bonds on Thursday.