HSBC
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Investors showed their preference for additional tier one (AT1) deals with a short time until their first call dates this week, as they looked to reassess the sector’s value amid a bout of volatility. -
Three Asian debt issuers launched dollar bonds on Wednesday, taking advantage of a respite from the market turmoil that all but shut the debt market earlier this week.
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Public sector borrowers are reaping the benefits of investors looking to “weather the storm” of wider market volatility, said bankers, as investors poured cash into short dated dollar issues this week. Bank Nederlandse Gemeenten and Sweden are set to be the next issuers to benefit, after mandating for three year trades on Tuesday.
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HICL Infrastructure Co, the UK infrastructure fund advised by InfraRed Capital Partners, has refinanced its £400m ($556m) revolving credit facility and managed to negotiate cheaper funding from its banking group.
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US oil and gas company Kosmos Energy, which operates in Africa, has refinanced a reserve-based lending facility signed in 2015.
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Despite a turbulent Monday for markets in Asia, Europe and the US, HSBC successfully completed the sale of 4.7m subscription rights for shares in Prisa, the Spanish media group that owns El País, ahead of its €563m rights issue.
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Koenig & Bauer, the German printing press maker, has made its debut in the syndicated loan market, agreeing facilities totalling up to €400m from eight banks.
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Novares, the French plastic car parts maker, has begun bookbuilding for its rebooted €260m initial public offering on Euronext Paris.
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A-Living Services has priced its Hong Kong IPO below the midpoint of guidance. The company raised HK$4.1bn ($524.2m) after the deal was well-received across all tranches.
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Enerjisa, the Turkish utilities company owned by E.On and Sabanci, has attracted sizeable interest for its IPO, which was covered 4.8 times and priced at the bottom of the range.
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Despite the latest bout of negative publicity surrounding it having used monkeys in emission tests lingering in the press, investors were still keen to buy Volkswagen’s new sterling corporate bond on Friday. The German car maker got over £500m of orders for the 4.5 year fixed rate deal.
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