HSBC
-
Allied Irish Banks was able to pay a minimum new issue premium for its third home-currency senior bond issued from the holding company, as it builds up its debt for minimum requirements for own funds and eligible liabilities (MREL). HSBC was also issuing from its holding company on Tuesday, but in sterling. -
Broadview Industries, a Dutch investment holding company, has launched a €200m multi-maturity dollar and euro Schuldschein. It offers a chunkier pick-up for investors than some of the domestic German deals on offer.
-
The treasury head for one of Europe’s largest capital markets borrowers, Germany’s KfW, said last week that primary markets syndicates ‘know less about the markets than 10 years ago’, leading to bankers being more conservative about where to price bond issues than in the past.
-
The Spanish region of Andalusia has sold three long dated bonds in the last week, marking its return to the MTN market after a six year absence.
-
Tennet, the Dutch electricity transmission company and frequent green bond issuer, returned to the public bond market on Monday, after nearly a year away. It offered benchmark 11 and 20 year euro tranches.
-
Caisse des Dépôts et Consignations (CDC) will introduce its new green, social and sustainability bond framework to investors ahead of a debut euro benchmark sustainability bond.
-
-
China Lesso Group Holdings, a manufacturer of home building materials, is preparing to refinance two loans with 2020 maturities, inviting existing lenders to join the mandated lead arranger and bookrunner group.
-
Export Development Canada sold its second Sonia-linked floating rate note on Friday, which extends the issuer’s curve linked to the reference rate to 2024.
-
The market welcomed a dose of investment grade rated corporate and financial supply on Thursday. State-owned enterprise (SOE) Shougang Group saw its bond rally in the aftermarket, while onshore brokerage Huatai Securities and China Ping An Insurance Overseas also managed to price deals tightly.
-
The dollar corporate bond market showed its resilience this week as issuance rebounded, despite the US-China trade turmoil. “Trump, Trump, Trump,” was how one syndicate manager explained the reasons for the return of volatility as high grade credit markets see-sawed with the President’s mood swings.
-
