HSBC
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Chinese local government financing vehicle (LGFV) Zhangzhou Jiulongjiang Group Co reopened the post-summer bond market with a $500m deal, making its debut in dollars. -
Danaher printed its much anticipated €6.25bn jumbo bond issue on Tuesday. The US conglomerate, rated A2/A, focused its five tranches on intermediate to longer tenors, which corporate syndicate bankers took to indicate where many investors want to put their money.
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A transparent pricing approach was integral to the success on Tuesday of UniCredit AG’s (HVB) five year Pfandbrief, which was launched with a deeply negative yield.
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Westpac placed just under HK$13.4bn into the Hong Kong market across two MTNs last week — the pair of bonds are its largest ever in the currency, according to Dealogic. The notes came in a busy week for niche issuance, and bankers have posited that this move into the peripheral markets comes as a response to the global fall in yields.
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Chinese sportswear manufacturer Xtep International Holdings has closed its refinancing loan at HK$1.8bn ($229.5m) with nine banks.
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After issuing its biggest ever bond last week, Bank Nederlandse Gemeenten will wait until after the highly anticipated US Federal Reserve and European Central Bank meetings later this month before deciding what to do about its next benchmark new issue.
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Mizuho issued five year and 10 year senior bonds this week, fixing spreads for the two instruments at 65bp and 67bp, respectively.
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London football club Tottenham Hotspur FC has sold £525m of US private placements, according to sources familiar with the situation, to pay off bank loans which funded the construction of its new stadium.
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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.
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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.
