HSBC
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Graham Tufts has left his position as vice chairman of leveraged and acquisition finance at HSBC and is understood to be joining Royal Bank of Canada in a senior role.
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The Nordic Investment Bank is set to bring a dollar benchmark in the five year part of the curve, a tenor that has come back into fashion for public sector borrowers — including from the European Investment Bank on Tuesday. That is despite most secondary flows coming in shorter maturities, according to SSA bankers. -
The UK Debt Management Office breezed through another syndication on Wednesday, although bankers said that the darkening cloud of global trade wars likely led some investors to seek shelter in the safe-haven asset.
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HSBC has hired two bankers, one from Credit Suisse and one from UBS, to strengthen its business with private equity firms and in offering leveraged financing.
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A survey of 2,350 bankers has found that NatWest Markets, HSBC and Barclays had the largest proportion of bankers saying they were happy with their 2018 bonuses, while Société Générale, Citi and BNP Paribas had the lowest proportion.
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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.
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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.
