HSBC
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Property companies in Greater China raised more than $6bn from the bond market this week, sparking fears of indigestion. -
China Fortune Land Development tapped the bond market with a $530m two year deal, generating a final order book that was almost 10 times covered as it attempts to draw a line under a difficult 2018.
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Robin Phillips, the long-serving co-head of global banking at HSBC is retiring in the summer, leaving Greg Guyett as the sole head of the business. Guyett will take full charge before Phillips has left the bank.
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The European Bank for Reconstruction and Development smashed its newly minted size record in sterling with its sophomore effort using the Sonia benchmark.
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Bahrain Mumtalakat Holding Company, the country's sovereign wealth fund, sold its $600m five year sukuk on Wednesday at a level that was so tight it even took the deal’s lead managers by surprise.
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China Construction Bank (CCB) and China Citic Bank International this week priced Basel III-compliant tier two deals, raising $2.35bn between them. The deals represent only the latest supply from Asia’s bank capital market, which is gearing up for a busy year. Addison Gong reports.
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Shriram Transport Finance Co raised $400m from first dollar bond on Wednesday, becoming the first Indian high yield borrower to tap the offshore market in just over a year.
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Chinese high yield borrowers have come to the market in droves this week. That continued on Wednesday, when three deals raised a total of $1.275bn.
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Egypt’s triple tranche $4bn bond drew a huge book of over $19.5bn on Tuesday in a deal that bankers away from the mandate said was a huge success, underscoring the phenomenal market conditions available to issuers.
