HSBC
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China’s Bank of Communications is eyeing a club-style loan to raise up to $500m through its Macau branch, tapping one firm as the sole lead of the fundraising. -
The results of Italy’s general election on Sunday indicated swelling support for right wing populist ideologies in Italy, but the euro SSA market appears to have accepted the result with equanimity, although only one borrower has popped its head over the parapet so far.
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The SRI market is in full swing. Two borrowers are set to come to market on Tuesday, while a third is going on the road to promote its return to the format.
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Two SSA borrowers readied trades in the dollar market on Monday, lining up for a busy week of issuance.
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Siemens has chosen to set a price range designed to please investors on the IPO of its medical technology division Siemens Healthineers, rather than seeking an aggressive valuation.
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A debut trade from Stark Group, the Nordic building materials supplier, gave high yield investors their first chance to invest in single-B rated bonds in about a month. The deal announcement arrived while market participants were still assessing the victory of Eurosceptic parties in the weekend's general election in Italy.
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Saudi Arabia has increased its loan from $10bn to $16bn as banks line up to join the facility, according to a statement from its Debt Management Office (DMO).
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China's SAIC-GMAC Automotive Finance wants to raise Rmb3bn ($473.7m) from an asset-backed securitization on Monday.
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Guarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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The total issuance of investment grade corporate bonds in February was an underwhelming €14.8bn but the property sector has outshone all others in 2018 and this week was no different as investors had further diversification to consider.
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Six of the nine investment grade corporate new issues in the last week of February were announced with a three letter acronym that, while providing clarity, served to frustrate investors keen to see greater volumes of issuance. WNG stands for “will not grow” and this week told investors that the meagre sized deals would not be increased, irrespective of demand.
