HSBC
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.
-
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.