HSBC
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Hannover Re has added to a string of recent new issuance from European insurers, opting for an unusual maturity structure for its tier two this week. -
Österreichische Kontrollbank (OeKB) is moving ahead with its debut socially responsible bond, after meeting investors earlier this month. Meanwhile, a French agency is preparing to showcase its own sustainable programme ahead of its debut benchmark bond.
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Alstom, the French maker of railway rolling stock, was the only high grade company to announce any corporate bond activity on Monday, as a public holiday in Germany and the huge flows of the last month kept the new issue market shuttered.
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Lloyds Bank Corporate Markets was marketing its first senior unsecured bond in euros on Friday, taking advantage of a quiet primary market. The issue gave investors a ‘healthy’ new issue premium, according to a FIG banker.
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A number of dollar bond issuers in Asia have moved to reopen their existing notes and add more funds to their coffers ahead of a week-long holiday in China for National Day.
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Banco BPM and Abanca made use of favourable issuance conditions this week to beef up their capital buffers. The Italian lender priced the 10 year non-call five deal at a 4.25% coupon and the Spanish issuer priced its 10.5 year non-call 5.5 year bond at 4.625%.
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Two public sector borrowers rode out the tricky conditions in the dollar market on Wednesday to find good demand for new issues. US Treasury yields recorded sharp falls that were due to a range of factors, including the launch of a formal impeachment inquiry into US president Donald Trump.
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Industrial and Commercial Bank of China (London) has closed its first green loan, a $370m dual currency facility, a year after issuing its debut green bond.
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HSBC has finalised its new corporate broking line-up, after a review conducted by its chief financial officer Ewen Stevenson. It has hired Morgan Stanley and Bank of America Merrill Lynch as brokers, replacing Goldman Sachs and Credit Suisse.
