HSBC
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Investors backed the return of the Balearic Islands to the bond markets on Tuesday with the Spanish region selling its biggest ever single tranche bond. It was able to attract huge demand despite increasing tensions surrounding Catalonian independence, which could lead to early elections in Spain. -
The US’s Glatfelter has signed $648m-equivalent in revolving and term loans, with the specialty paper company planning to use the euro portion to buy back bonds.
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Chinese real estate companies Zhenro Properties and China Aoyuan Group reopened the Asian offshore bond market with a bang, as cash rich investors flocked to their transactions.
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Banks have started marketing the sterling loan to fund the acquisition of a stake in Westbury Street Holdings, the parent company of Searcy’s champagne bars and Benugo coffee bars, with a £363m seven year term loan and a £91m eight year second lien on offer.
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The Netherlands Development Finance Company (FMO) and the Bank of England hit screens with dollar mandates on Monday to start what should be a busy week of supply in the currency for public sector borrowers, according to bankers.
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KfW found plenty of appetite in the sterling market on Monday, allowing it to increase its target size during the book build for a tap, before printing an even larger size of £750m. FMS Wertmanagement will add to the sterling supply on Tuesday after picking banks for its second fixed rate benchmark in the currency this year.
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The Balearic Islands appointed banks on Monday for its first bond since 2012, just as tensions over Catalan independence return to the forefront of Spanish politics.
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Mark Tucker, group chair of HSBC, will join TheCityUK later this year, replacing John McFarlane.
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Sino Biopharmaceutical has turned to banks for a $700m refinancing loan. It is offering the same price as it paid for the original deal, a club loan sealed in 2016.
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Chinese property issuers led the reopening of Asia’s offshore bond market following a week-long holiday in the Mainland to celebrate the Lunar New Year. Investors responded to the new deals with enthusiasm.
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