HSBC
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Ford Automotive Finance is set to join the Chinese auto loan ABS issuance spree with a Rmb4.776bn ($695m) four-tranche deal on July 23. After this transaction, the originator will have raised a chunky Rmb31.6bn from the market since its debut five years ago.
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Korea Western Power Co (Kowepo), the power supplier owned by state-backed Korea Electric Power Corp, sold $300m of three year notes on Monday, riding on strong demand from sovereign wealth funds and central banks.
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Acciona, the Spanish infrastructure and renewable energy company, appealed to investors with its green, triple tranche Schuldschein offering, which closed last week at €155m.
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Despite the gloomy macro-economic outlook, conditions remained good for corporate bond issuers in Europe this week. Investor appetite was high and supply low, as some bankers, investors and issuers holidayed, and issuers headed into earnings blackout periods.
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Emerging market consumer finance company Home Credit filed its draft prospectus in Hong Kong on Monday, setting its $1bn-plus IPO in motion, according to a source with direct knowledge of the matter.
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Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.
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Event-driven hedge fund Sand Grove Capital Management has disclosed a 5% stake in UK car dealer BCA Marketplace, the subject of a takeover offer from TDR Capital. The purchase follows big sales from some of BCA’s cornerstone shareholders who had agreed to support the bid, including embattled Woodford Investment Management, and Invesco.
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A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.
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Blue chip Hong Kong issuer New World Development Co has priced a 10 year bond worth $950m, after the leads decided to start bookbuilding at a generous level to build momentum.
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Budweiser Brewing Apac has delayed pricing its jumbo float on the Hong Kong Stock Exchange, according to a source at the company.
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Chinese local government financing vehicle (LGFV) Tianjin Binhai New Area Construction & Investment Group Co’s decision to postpone a planned three year bond has highlighted the debt crisis in the Tianjin area.
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DP World on Thursday launched a new $1bn 10 year sukuk and $300m tap of its $1bn 5.625% September 2048s, both with negative new issue premiums.