HSBC
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China State Construction International Holdings and Shenzhen International Holdings are taking bids for dollar bonds, while Yiwu State-owned Capital Operation Co has mandated banks for a Reg S deal. On the other hand, Lifestyle International Holdings has decided not to pursue its fundraising for the time being. -
Export Development Canada is out with a three year dollar global that carries no-grow language — a tactic the agency once used frequently but dropped from its other benchmarks this year.
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Abu Dhabi National Oil Co has signed its $6bn debut syndicated loan facility with 13 banks. The deal was well received by banks, driving down pricing to new lows.
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China’s Liaoning Fangda Group Industrial Co and BlueFocus Communication Group Co are meeting investors this week for their first international bond offerings. Huarong Real Estate Co, meanwhile, will hit the road for a euro deal.
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India’s Reliance Industries is the first to take advantage of the positive sentiment around the country following the sovereign’s ratings upgrade last week. The petrochemical to digital services conglomerate started marketing a dollar bond on Monday morning.
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Philippine homebuilder Vista Land & Lifescapes is back in the offshore debt market after a near two year break, and is taking bids for a new transaction.
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China Jianyin Investment (JIC), an equity investment group, pushed through a triple-tranche, dual-currency bond on Thursday when many others struggled to find their feet. But it wasn’t all smooth sailing, with the issuer’s notes taking a hit in secondary.
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A €30bn debt exchange by Greece’s Public Debt Management Agency began on Wednesday and should help the sovereign boost the liquidity in the long end of its curve, said SSA bankers. But some warned that liquidity cuts two ways, meaning the sovereign’s levels could be more sensitive to any bad news that comes its way — although those working on the deal feel the upside far outweighs that risk, writes Craig McGlashan.
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The social bond market — though still nascent — is rapidly gaining momentum. Three public sector issuers made their debuts in the market this week, all of which met with enthusiastic approval from Europe’s community of dedicated socially responsible investors.
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HSBC printed its first deal following the terms of its sustainable development bond framework this week, raising $1bn of new senior debt in the dollar market.
