HSBC

The return to health of the investment grade corporate bond market has been a path carefully trodden one step at a time. French electrical components manufacturer Schneider printed a successful nine year new issue on Wednesday, following corporate deals with eight and seven year tenors on the previous days of the week, but the lack of other supply surprised some bankers.

The Paris IPO of Delachaux Group, the French maker of railway equipment, has been called off after CVC agreed to sell its stake in the company to Caisse de dépôt et placement du Québec (CDPQ) for an undisclosed price.

UK banks may have to reassess the make-up of their capital structures after the Bank of England said this week that it could slap a higher minimum requirement for own funds and eligible liabilities (MREL) on groups with regulatory debt sat outside the main resolution entity.

German chemicals producer BASF found overwhelming demand for its first sterling corporate bond of 2018 this week. The issuer’s £250m ($330m) offering was more than six times oversubscribed on Thursday, as sterling investors clamoured for a rare non-UK credit.

The pipeline of Indian loans is building up, with Housing Development Finance Corp and Kotak Mahindra Bank seeking new fundraisings.

Industrial and Commercial Bank of China (Asia) on Wednesday priced a triple-tranche green bond. But the deal, comparatively smaller than recent issues at $730m equivalent, had a moment of intrigue when one global co-ordinator left the syndicate group.

Huo Rongrong, the former global head of RMB and China business at HSBC, has left the bank for Investec Asset Management. The London-based banker will have a broader remit in her new buy-side role.

The return to health of the investment grade corporate bond market has been a carefully trodden path, one step at a time. On Wednesday, French electrical components manufacturer Schneider printed a successful nine year new issue, following corporate deals with eight and seven year tenors on the previous days of the week.

Macquarie Group has signed a £2bn loan that features green tranches, as the seemingly inexorable rise of the product continues unabated.

One of HSBC’s co-heads of Latin American DCM has left for Scotiabank.

Allocations for a €3.025bn acquisition loan from Czech investment fund PPF Group are due in the next few days, according to a lead.

Industrial Bank of Korea mandated banks for a social bond issuance on Tuesday, viewing the product as a natural fit for the first transaction from its socially responsible bond framework. Meanwhile, ICBC Asia is looking to sell a new green deal.