HSBC

HSBC recorded better profitability and higher revenues at the group level for the first nine months of 2018, with Asia continuing to play a key role. But the bank’s global markets business took a hit.

State Bank of India has mandated seven banks for a $500m offshore borrowing, returning to the market just two months after closing its last facility.

China and Japan confirm details of currency swaps and plans to invest more in third party markets, the Hong Kong Monetary Authority (HKMA) renews the license of nine authorised institutions as Primary Liquidity Providers (PLPs) for the CNH market in Hong Kong and Singapore sets up new government agency to bridge the funding gap facing Asia’s infrastructure projects.

Indonesia’s Pertamina has withdrawn a cash tender offer for its 2021 and 2022 notes and will not be selling a new bond at this time due to unfavourable market conditions.

Rating: Aaa/AAA/AAA

Two Middle Eastern borrowers printed seven year sukuk dollar benchmarks on Wednesday, restarting the market after a few weeks of flagging issuance.

Foreign appetite for China’s ABS market is growing fast, although the trade war and market infrastructure still pose challenges, according to panellists at IMN’s first Asian Structured Credit Summit on October 24.

Two Chinese state-owned enterprises (SOEs), China Petrochemical Corp (Sinopec) and State Power Investment Corp (SPIC), picked a short-lived issuance window to raise a combined $1.07bn on Wednesday.

With the spat between Italian government and the Europe Commission over the former's budget rocking bond markets, windows of opportunity for new deals have been few and far between. But A-/A3/A- rated German utility company EnBW and AA-/Aa3/AA- rated Procter & Gamble raised bonds on Wednesday, as a flight to safety gave the transactions the required lift.

Jefferies is enjoying unprecedented success in EMEA as it exploits dislocation among European rivals to snap up staff. But the US bank's hard-driving performance culture is not for everyone, writes David Rothnie.

A long-touted equity link between London and Shanghai is set for take-off by the end of the year, but the most unsurprising news to emerge is HSBC’s plan to use it for a Mainland listing. China now has an excellent chance to get its act together on Chinese Depositary Receipts.

Malaysia’s Tenaga Nasional Berhad (TNB) raised $750m from a Wakala sukuk sale on Tuesday, navigating market worries by using a targeted approach for its deal.