HSBC
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Czech consumer finance company Home Credit has begun work with investors for its IPO of around $1bn on the Hong Kong Stock Exchange, testing investor appetite on Monday. -
Three new investment grade corporate bonds appeared in Europe on Friday, a slower pace than the frenetic one of Tuesday and Wednesday, but still adding €1.6bn to the already huge total of €15.5bn in the middle three days of this week.
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Issuance is starting to resume after the summer break; however, this week a booming public market drew away investor and issuer attention from MTNs. Despite this, a range of established SSA, FIG and corporate borrowers have slipped in, with deals across core, niche and EM currencies.
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MEA-based waste management services provider Averda has amended and extended an existing term loan facility, garnering 70% oversubscription.
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CK Hutchison Holdings has launched a takeout deal into syndication to replace a €10.4bn bridge loan raised by Wind Tre, an Italian company it acquired last year.
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Bank of Communications Financial Leasing Co priced a small $600m dual-tranche transaction, attracting twice as much interest on a floating rate note compared to a fixed rate bond.
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Lenders unconcerned as recession portents mount — Booking Holdings gets global group for revolver — Pemberton raises €3.2bn more for Europe’s mid-market — Eurotorg re-enters rouble debt market
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SSA dollar deals printed this week ground tighter in the secondary market on Thursday, despite the notes coming within a hair’s width of US sovereign debt.
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BMW this week became the first corporate issue to issue a floating rate note using Sonia as its benchmark.
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Deutsche Pfandbriefbank was marketing a five year senior preferred bond in the euro market on Thursday. The deal was launched at a spread unmoved from price thoughts, with order books only €125m larger than the deal size.
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PSA International, the Temasek Holdings-owned port operator, seized $500m from its return to the dollar bond market after a three year hiatus. It priced the 10 year deal right around fair value, thanks to its opportunistic timing and strong credentials.
