HSBC

Charges levelled against HSBC by the US Department of Justice have expired, according to a statement fhe bank.

Abu Dhabi National Oil Co attracted good international participation to the $850m IPO of Adnoc Distribution, its chain of petrol stations and shops in the United Arab Emirates, which was priced on Friday.

The accountancy firm has hired a former HSBC official as a partner in its UK banking and capital markets team.

In this round-up, China’s Politburo meets to discuss the policy priorities for 2018, Shenzhen Stock Exchange in talks over ETF Connect, and HSBC expands its A-shares coverage from its onshore securities joint venture.

Public Financial Holdings has returned to the Hong Kong dollar loan market for a HK$1.1bn ($141m) refinancing.

BMC Software has shrunk its triple-C rated high yield bond issue from €380m to €250m as demand proves hard to come by. But Burger King France has managed to price its offering at the tight end of the range, though with an adjustment to the tranching.

Wuhan State-Owned Asset Management Company (WSAM) and Hefei Industry Investment Holding (Group) Co added to the recent issuance momentum from Chinese local government financing vehicles, with each printing $300m bonds on Thursday.

SSA bankers looking to get their Christmas shopping in early were in a state of shock on Tuesday, as the World Bank brought a dollar deal to follow the Province of New Brunswick’s return to the currency after a six year hiatus. But that could be it for 2017 as issuance is unlikely next week, which is bisected by a Federal Open Market Committee meeting.

The euro high yield pipeline unveiled a battery of deals this week, six of them with ratings below double-B. The largest came from French frozen food retailer Picard Surgelés, which will refinance over €1bn of existing debt and pay a dividend to its private equity sponsors.

Abu Dhabi National Oil Co, the Abu Dhabi state-owned oil company, is set to price the initial public offering of its distribution arm on Friday, in a deal worth Dh3.125bn ($851m), after revising guidance to the lower half of the range.

Several bankers are leaving HSBC's bond teams, including its head of public sector syndicate, according to sources.

Industrial and Commercial Bank of China sold a dual-tranche floating rate transaction on Wednesday, getting significant interest from western accounts as it used its London arm as the issuing vehicle.