HSBC

Socially responsible investment deals were the focus of attention in the primary SSA market this week, as the World Bank and the Flemish Community of Belgium sold well-received green and sustainability bonds, respectively. Bank Nederlandse Gemeenten and Eurofima have added to the public sector SRI pipeline, which is showing no signs of slowing down as the year end approaches.

NMC Healthcare, the London-listed United Arab Emirates healthcare company, made its bond market debut in a week wracked by volatility. But despite the choppy backdrop, NMC’s debut came off smoothly.

A French public sector borrower has appointed HSBC as sole arranger for its Euro Medium Term Note programme, as it prepares to make its debut in the bond markets.

Japanese pharmaceuticals company Takeda implemented the first part of its financing of a £46bn takeover of UK biotech firm Shire on Thursday. The company used a six tranche combination to raise €7.5bn on its debut in the euro market.

Chinese bank ICBC was forced to cancel its dual-tranche bond on Wednesday as a result of market conditions.

State Power Investment Corp’s $500m senior perpetual bond attracted plenty of demand in both the primary and secondary markets, despite coming with a structure that has fallen out of investor favour for much of 2018.

Export-Import Bank of Thailand has raised $300m from its first foray into the offshore bond market, generating $2.5bn of demand — and setting an important benchmark for the country’s issuers. Morgan Davis reports.

A generous initial guidance from KWG Group Holdings for its $400m bond issuance ended up repricing the Chinese single-B rated curve lower on Wednesday.

South American development bank Corporación Andina de Fomento (CAF) is due to price to a first public dollar deal in a year on Thursday, having set price talk on Wednesday.

HSBC Canada has mandated joint leads for its first covered bond and held investor meetings on Tuesday. The moves comes after a succession of successful dollar benchmarks from European and Canadian borrowers.

The Export-Import Bank of Thailand set a benchmark for issuers from the country with its debut $300m outing on Tuesday, finding strong backing both in the primary and secondary markets.

Industrial Bank Co’s Hong Kong branch has priced a dual-currency green bond, offering a pick-up of around 10bp over recent prints from China’s big four lenders.