HSBC
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A surge in shareholder activism is providing banks with a lucrative new source of revenue, but they have to tread carefully or risk losing treasured corporate relationships, writes David Rothnie. -
China Construction Bank is looking to close its Rmb10.25bn ($1.53bn) Jianyuan 2019-2 residential mortgage backed securities transaction next week. The deal has an AAA international rating from S&P.
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Islamic Development Bank is expected to raise $1.5bn with a five year sukuk on Wednesday.
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KfW and SFIL printed $4.25bn of debt on Tuesday, with both deals looking as if they paid a few basis points over fair value. That marks a return to new issue premiums in the dollar market for sovereigns, supranationals and agencies.
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Nexi, the Italian payments company, has fallen by almost 8% on its first day of trading after its Milan IPO last week. High volume selling at the beginning of the day has hurt the stock.
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The Islamic Development Bank has announced initial price thoughts for a five year sukuk dollar bond — its first since a euro benchmark in November 2018.
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First Abu Dhabi Bank has printed two sterling private placements in the last week — the most recent Tuesday morning’s £120m note through JP Morgan — adding to a flurry of sterling trades from the Middle East.
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Shriram Transport Finance Co turned to US investors on Monday to help seal a $500m high yield bond, just weeks after selling a $400m Reg S trade.
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The sovereigns, supranational and agency market poured into dollars on Monday with two issuers announcing price thoughts for deals and a third potentially due on screens after investor meetings.
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German defence firm Krauss-Maffei Wegmann (KMW) has signed a €350m loan, joining Port of Rotterdam and FEV Group in the market for similar sized deals amid a wave of mid-market activity in Europe.
