HSBC
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Indian agrochemical producer Crystal Crop Protection has lined up a quartet of local and international firms to lead its potential Rp10bn ($154.8m) IPO, according to a banker on the mandate. -
Chinese property giant China Vanke Co has priced a 10 year deal around fair value, taking $1bn out of the market. The company made the most of a strong name recognition and some rarity value, making just its third issue in the offshore bond market.
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A wave of public sector borrowers is set to hit screens next week, providing investors who have recently been lacking socially responsible bond issues with a well stocked menu of ethically themed deals.
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Lonza, the Swiss medical firm, is sounding the market for a $100m seven year loan, following a €870m-equivalent Schuldschein transaction in August.
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Public sector borrowers are preparing a flood of dollar issuance, said bankers, after a week with just one benchmark in the currency. The lack of deals this week was down to several factors, including the anticipated naming of a new US Federal Reserve chair on Thursday.
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Euro corporate bond investors see RCI Banque as a frequent borrower, pricing new issues multiple times a year, but it remains a rare name for sterling investors. Last Friday it sold its first bond in the currency for more than three years.
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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.
