HSBC
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India’s Axis Bank is in the market with a five year dollar bullet through its Dubai International Finance Centre branch, wooing the buy-side a year after its debut green bond. -
State Bank of India’s new $750m five year financing has been launched into syndication after a 10-strong bookrunner group funded the transaction.
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A US court has dismissed claims against HSBC, interdealer broker ICAP and trading platforms provider Tradeweb for unlawful collusion in the interest rate swaps market. However, claims against 10 other banks are still being tried.
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Anglian Water priced a £250m eight year bond on Monday, its first green bond and the first from a UK water company since the Green Bond Principles were introduced in 2015.
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HSBC has started to record a separate line in its financial reporting for "costs associated with the UK’s exit from the EU". The bank booked just $4m of costs this quarter for Brexit, but said costs could rise to $200m-$300m.
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Indonesian tyre maker Gajah Tunggal is planning a return to the dollar market to refinance a $500m 7.75% note coming due in February 2018.
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India’s Azure Power Energy made its debut in the international bond market with a dollar green transaction on Thursday. But the solar power issuer had to pay up to secure $500m in a week that caused difficulties for Indian markets.
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Greece’s comeback bond this week should build on its already strong secondary performance, said SSA bankers, paving the way for the sovereign to bring more deals before its scheduled bail-out exit in August 2018. Bankers were quick to point out that while the deal resembled its last comeback trade in April 2014, much has changed since — including its cost of borrowing.
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International Finance Corporation introduced the Kauri market to green bonds on Thursday, after opening books on a socially responsible New Zealand dollar note with a NZ$100m ($75.2m) minimum size.
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With no new issues pricing on Thursday, and no sign of Superstrada Pedemontana Veneta’s €1.55bn dual tranche deal, it could be left to The Housing Finance Corp (THFC) to save the investment grade corporate bond market from a three day run without any issuance.
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The three new issues and one tap that priced in the investment grade corporate bond market this week were all two to three times oversubscribed, but a thinning supply pipeline and the excuse of a Fed meeting meant no deals were launched on Wednesday or Thursday. However, three issuers are looking to issue before the summer break, following meetings with investors.
