HSBC

Emirates Airlines has set the yield for its benchmark sukuk at a level representing a negative new issue premium, according to a banker on the deal.

Rao to lead HSBC’s Southeast Asia corporates team – JP Morgan names Asia DCM head

KfW built a towering book in the five year part of the euro curve on Wednesday with a deal that SSA bankers away from the trade said probably attracted heavy French demand. The agency’s choice of printing just €4bn from a book of over €8bn should ensure a tightening of its curve, they added.

Sanofi, the French pharmaceutical company, priced on Wednesday the largest corporate bond deal so far in 2018, an €8bn six-tranche deal. The company regularly uses a multi-tranche approach to the market, but this was its largest deal so far in any currency.

The IPO of Siemens Healthineers, the healthcare technology division of Siemens, is covered throughout its revised price range, according to a banker involved in the transaction.

Singapore-listed OUE tapped the markets on Tuesday with a pair of five year equity-linked bonds, one convertible into its shares and the other exchangeable into stapled securities of OUE Hospitality Trust.

Greenland Holding Group Company has joined a slew of Chinese property developers issuing offshore renminbi bonds, but it left something on the table for investors to achieve a relatively large size of Rmb1.5bn ($237m).

China’s Tianjin Rail Transit Group Co (TRT) and Chengdu Xingcheng Investment Group Co both dipped into the euro market on Tuesday, with the former printing a green bond.

HSBC has appointed Pradeep Rao as head of corporates for Southeast Asia, effective immediately, according to a press release sent on Tuesday.

Public sector borrowers found buckets of dollar demand on Tuesday, as a French agency sold its largest ever benchmark in the currency and a supranational printed a trade at the upper end of its historical size range. Another supra is lined up to test whether that demand will hold on Wednesday.

Spanish telecoms company Telefonica has announced the sale of its latest hybrid new issues while also tendering for several of its outstanding hybrids. After over a month since the last benchmark euro hybrid issue, investors contributed to a large order book.

After a reasonable wait, investors are starting to see the more frequent investment grade corporate bond issuers return to the market. On Tuesday, French materials company Saint-Gobain and French telecoms operator Orange sold benchmark deals and UK media company WPP sold a dual-tranche issue.