HSBC
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Investors scrambled for yield in the dollar bond market this week as Concho Resources printed its debut investment grade offering amid nearly $19bn of other corporate offerings.
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Two high quality euro borrowers printed what may be among their last benchmarks of the year this week, squeezing new issue premiums flat to the curve as investors filled their boots.
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Kommuninvest kept up this week’s trend for tightly priced short end dollar deals as it achieved its tightest ever spread to swaps on Thursday. Big demand for short dollar paper is creating a “bid-only” market, according to bankers.
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Mitsubishi UFJ Financial Group (MUFG) has set up a subsidiary in Amsterdam, giving it an option for its securities business once the UK leaves the EU.
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Mapletree Logistics Trust sealed an accelerated bookbuild at the top of guidance on Wednesday, raising S$353.5m ($261.8m) from the first step of a two-pronged equity raise to fund the acquisition of a Hong Kong warehouse.
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Tobam has hired Frédéric Jamet as head of trading and co-head of research. Mr Jamet will oversee equities, fixed income, forex and assets. He will be based in Paris but will manage teams on the continent and in Dublin.
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Harvest Operations Corp, a Canadian oil and gas company, began marketing a dollar bullet on Thursday that is backed by its parent, Korea National Oil Corp (KNOC).
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CSI Properties printed a $200m bond on Wednesday for refinancing purposes. The leads were not short on comparables given that several of the issuer’s developer peers have sealed similar transactions so far in 2017.
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South Korea’s Shinhan Bank braved the dollar market on Wednesday for the second time this year, hoping to secure a new Basel III tier two dollar bond while North Korea-related volatility looked quiet.
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Postal Savings Bank of China Co has mandated 21 banks to work on a dollar AT1 transaction worth up to Rmb50bn ($7.4bn), expected to hit the market as early as next week.
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Kommuninvest is set to complete a trio of three year dollar benchmarks from SSAs this week, after Nordic Investment Bank comfortably priced in the tenor on Wednesday.
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ASR Nederland, the Dutch insurer, has returned to full private ownership after NLFI, the organisation that manages the investments of the Kingdom of the Netherlands, sold its final 20.5% stake via an accelerated bookbuild on Wednesday evening that attracted over 150 investors.