HSBC
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Dollar corporate bond supply kicked off November on a quiet note after the the Federal Reserve’s two day meeting kept borrowers on the sidelines following a frantic start to the week when spreads continued to tighten and cash poured into the high-grade market. -
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Bank Nederlandse Gemeenten (BNG) launched its fourth sustainability bond on Thursday, printing €750m into what one head of DCM away from the trade called a “massively oversubscribed book”, in what is likely a good omen for the approaching wave of SRI borrowing.
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Auckland Council is set to bring its second euro bond of the year — and only its third ever — next week, following a series of investor meetings in Europe.
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Hong Kong’s overnight interbank lending rate spiked dramatically this week, after a horde of retail investors borrowed on margin to place bets on two IPOs.
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Yunnan Provincial Energy Investment Group Co will meet investors in Singapore and Hong Kong for its first bond of the year. The local government financing vehicle (LFGV) last priced a dual-trancher in December.
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State-owned China Minmetals Corporation on Wednesday rolled out a dollar-denominated perpetual bond, raising $1bn from the deal. The company was able to price at a tight level, especially when its low step-up is taken into account.
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The Canadian subsidiary of Korea National Oil Corp priced a $200m tap of its five year bonds to help fund one of its projects, and managed to price 12.5bp inside where the original notes came in September.
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Property giant China Vanke Co and HNA Group Co came to the market on Thursday with dollar bonds, taking vastly different approaches. Vanke opted for a tenor of 10 years, but HNA kept it ultra-short.
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Saudi Electricity Co’s $1.75bn loan has been successfully sold down to four other banks.
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Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April.
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State-owned Abu Dhabi National Oil Co (Adnoc) is expected to sign its debut syndicated loan facility for $6bn with 13 banks next week.
