HSBC

The first issuer representing the United Arab Emirates (UAE) as a federal entity came to market this week. The deal was part of a trio from the Middle East, none of which offered investors anything in the way of new issue concession.

Futu Holdings, theparent of Hong Kong-based Futu Securities International, has hit the road with an up to $130.8m Nasdaq IPO. The firm has cut the size of its float amid shaky markets, but the deal is still being used as a yardstick by its larger competitor Tiger Brokers, which is snapping at Futu’s heels with its own US listing. Jonathan Breen reports.

Poland is in the market for its most ambitious green bonds yet. It has opened books for two tranches of euro debt, hitting the 10 and 30 year maturity buckets.

China’s Hefei Guoxuan High-Tech Power Energy and Bank of Communications Financial Leasing are both raising dollar loans. But while Guoxuan is tapping offshore liquidity, Bocom Leasing is targeting onshore banks.

Ecom Agroindustrial Asia, the Singaporean business entity under Swiss commodities trader Ecom, has returned to the international loan market for its annual borrowing.

American International Group has raised HK$3.79bn ($482.3m) from the sale of its remaining stake in People’s Insurance Company Group of China (PICC), according to a term sheet seen by GlobalCapital Asia.

Almarai, the largest dairy company in the Middle East, sold its $500m five year sukuk on Tuesday having drawn a huge $5.3bn of demand for the deal — the first from a Saudi investment grade private corporate issuer.

Futu Holdings, parent of Hong Kong-based Futu Securities International, has launched bookbuilding for its potential $130.8m Nasdaq IPO.

ICBC Financial Leasing Co pulled off an ultra-tight spread on both tranches of a $1.5bn bond. The issuer built a mammoth order book with generous initial guidance but ultimately pushed investors inside fair value estimates.

Spain's no-grow €5bn 15 year syndication on Tuesday was only marginally short of breaking the record order book for a public sector euro benchmark that the sovereign set only last month, despite some investors saying that the deal offered little or no concession.

Colgate-Palmolive, the US consumer products company, has added to the recent splurge of new reverse Yankee supply with a €1bn dual-tranche that was seven times oversubscribed.

Almarai, the largest dairy company in the Middle East, has tightened price guidance for its dollar benchmark sukuk as investors jump on the offer of exposure to a company of “critical importance to Saudi and the GCC”.