HSBC
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China Development Bank Financial Leasing Co is back with its second dollar bond, following its international debut in November 2014. Financial leasing firm Lionbridge Capital Co is also looking to price its debut deal on Tuesday.
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Eversholt Rail, the UK railway carriage leasing company, returned to the bond market after a six year gap today, to borrow £400m of 25 year amortising debt.
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Greece is set to make its much rumoured return to the debt markets this week, bringing a new five year bond alongside a switch and tender offer for its original comeback issue, an April 2019 sold three years ago. Bankers away from the trade expect the trade to go well, despite coming just as the summer slowdown is set to start.
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Just one borrower occupied European high yield bond pipeline at the start of this week giving the impression the market is about to slow for summer. Bain Capital’s hygiene product supplier Diamond, is out on a roadshow.
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Chong Hing Bank wrapped up the exchange portion of its legacy tier two bonds last Friday, soon after raising $360m from a 7.5x covered new money transaction that was buoyed by its rarity value.
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Industrial Bank of Korea (IBK) began marketing a subordinated perpetual bond on Monday morning, the first dollar additional tier one note from a South Korean policy bank.
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European Central Bank president Mario Draghi may have signed off for the summer by dampening debate around tapering of the ECB’s bond purchasing, but investors are still at their desks with money to spend.
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China Life Insurance (Overseas) Company’s $250m bond generated huge demand on Thursday, with final books hitting $3.9bn. Market participants reckon the issuer priced through theoretical fair value.
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Malaysian lender Maybank priced its first onshore renminbi bond on July 21, with the Rmb1bn ($148m) three year deal closing books early in the afternoon.
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The Eastern European sovereign announced the price guidance for its three year debut Panda bond on July 25, after agreeing on a Rmb3bn ($445m) Panda programme with onshore authorities last week.
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Investors flocked to Parkway Pantai’s senior perpetual offering on Thursday, intrigued by a rare bond from a debut healthcare issuer despite the deal's lack of rating.
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Kroger and Alimentation Couche-Tard led a flurry of issuance by dollar borrowers to exploit red hot demand for high grade paper. With the bulk of corporate America in earnings blackout, the retailers demonstrated the strength of investor sentiment.