HSBC
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State Bank of India is finally courting investors for its maiden green bond, which has been planned for more than a year. -
Specialty chemicals distributor Azelis offered a €1bn loan deal to fund its acquisition by EQT this week. It has pre-placed almost half of it amid widening margins in the European leveraged loan market.
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CCB Financial Leasing Corp sold the only dollar bond from Asia ex-Japan this week, raising $400m from a five year floating rate note on Thursday. But bankers and analysts said that the once robust demand for the format is already showing signs of decreasing.
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Powerlong Real Estate Holdings has closed a $305m offshore loan with three lenders.
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A slew of deals hit screens in sterling this week, allowing SSA borrowers from three continents to pick up a combined £1.175bn ($1.55bn) in funding — including one borrower’s largest-ever deal in the currency.
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A German sub-sovereign astonished the SSA market this week, selling a 50 year benchmark to show that, despite the expectations of rising rates in euros, some investors at least are still happy to put money into assets at the ultra-long end. Lewis McLellan reports.
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A pair of seasoned green bond issuers brought deals in the format this week — but each opted to print in a currency in which it had not sold green bonds before.
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German healthcare company Fresenius this week opted to issue a €500m no-grow seven year trade following a roadshow, a choice which rewarded it with an order book that was more than five times subscribed.
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Toyota’s Australian finance arm ended a 14 year hiatus from issuing bonds in sterling this week when it sold the first sterling corporate bond of the second half of 2018. The breadth of the sterling investor community was evident in the order book, but the depth was not.
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UK retailer J Sainsbury’s has signed a £3.5bn loan package to back its acquisition of Walmart-owned Asda, with the company raising more debt than the cash component of the deal despite analysts raising concerns about the borrower’s recent debt levels.
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HSBC Germany has launched a digital platform for Schuldschein issuance called Synd-X, following in the footsteps of Helaba and LBBW. But unlike its German peers, it aims to preserve the role of banks as gatekeepers to the market.
