HSBC

The musical chairs in Hong Kong’s equity capital market hit a crescendo this week, as senior bankers from both bulge brackets and Chinese firms took turns swapping seats. With several positions still left to be filled, the movement is unlikely to stop soon. But all this points to a sustained rise in business, writes John Loh.

HSBC has hired an SSA syndicate banker from NatWest Markets, with the new recruit set to make a switch to FIG syndicate, GlobalCapital understands.

Indian solar energy producer Azure Power Energy started marketing its debut international green bond on Thursday. The deal was announced two days after another Indian energy firm, Continuum Energy Levanter, pulled its own dollar bond.

Hungary plans to make regular returns to the Panda bond market after making a successful debut this week, György Barcza, chief executive of the country’s debt management office, told GlobalRMB.

NRW.Bank announced on Wednesday that it will go on the road at the end of August to market its fifth green bond.

The corporate bond deals priced so far this week show a robust market. A US Federal Reserve meeting and a thinning pipeline may have resulted in a maiden over of a Wednesday, but hopes are high of primary business picking up before the end of the week.

It has been a rough week for Asia’s high yield issuers. But China Development Bank Financial Leasing Co showed that higher-rated names can still get plenty of demand, raising $1bn from a dual-tranche bond that appeared to price in line with fair value.

Hungary priced its debut Panda bond just before 5pm on Wednesday, completing the second onshore renminbi bond deal by a European sovereign.

Bain Capital’s Diamond, the cleaning chemicals business, had to remove a controversial restricted payment clause before printing the triple-C rated bonds of its new financial structure on Tuesday.

Greece’s return to bond issuance on Tuesday drew praise from bankers across the SSA sector, who are now eagerly waiting to see whether the book — much smaller than its previous comeback bond in April 2014 — trumps that older deal for quality.

Indonesia’s Paiton Energy has mandated banks for a debut public dollar bond. It will kick off a roadshow this week.

Industrial Bank of Korea (IBK) raised $300m from its first trip to the additional tier one market on Monday. Investors embraced the structure, pushing the books to eight times covered.