HSBC

Despite bagging Rmb4bn ($633.2m) from the Chinese asset-backed securities market on Tuesday, GAC-Sofinco Auto Finance failed to attract offshore interest and priced the deal wider than it did in its last transaction. But these upsets have not affected the carmaker’s appetite for more onshore deals.

Details have emerged on £1.5bn of underwritten loans for the UK’s Phoenix Group, as the life assurance fund consolidator moves closer to its £3.24bn cash and shares purchase of Standard Life Aberdeen’s insurance arm.

Investors are receiving a decent concession to buy new paper in the FIG market, and this has encouraged them to jump out of outstanding bonds, thus widening the curve further for new issuers. And covered bonds buyers are also gaining the upper hand, as the European Central bank pulls out.

Hong Kong-listed New World Development has converted a loan signed in March 2016 into a green loan, a first of its kind for the company and in line with its plan to promote sustainability across its business.

GlobalCapital revealed the winners of its Equity Capital Markets Awards 2017 at our third annual Awards Dinner in London on March 20. CEOs and CFOs were present to collect Awards for landmark deals such as the UniCredit and Santander rights issues and the IPOs of Allied Irish Banks and Pirelli.

Glencore, the Swiss commodities trading and mining company, has breathed some life into Europe's equity-linked market with a $500m equity-neutral convertible bond due in 2025.

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.

A long-awaited additional tier one (AT1) from HSBC was trading up on Tuesday, having offered investors an attractive premium.

Beijing Capital Group debuted in the green bond market on Monday with a $600m-equivalent deal featuring dollars and offshore renminbi (CNH), finding enough buy-side support to tighten pricing by over 20bp on both the tranches.

Shinhan Bank was forced to pay a new issue premium (NIP) to complete its Basel III-compliant tier two deal on Monday, like most other issuers in recent weeks. But the South Korean borrower still managed to price its bond tighter than expected.

Funding for leveraged buyouts in the European primary high yield market gained further share of overall issuance this week, as specialty car parts maker LKQ of Chicago sold a €1bn bond for its acquisition of German peer Stahlgruber.

Italian business software vendor TeamSystem returned to the public bond market to refinance a floating rate note it placed privately in 2016, as high yield fund managers increase their demand for floating rate debt this year.