HSBC
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A special purpose vehicle under India’s Greenko Energy Holdings is ready to market a dollar green bond, while Hong Kong’s Castle Peak Power Company is looking to sell what it is calling an energy transition bond. -
Greentown China Holdings and ENN Energy Holdings are courting investors for new dollar deals this week.
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Peru will begin meeting fixed income investors on Tuesday in preparation for a benchmark-sized Peruvian sol-denominated bond of “intermediate to long maturity”, according to a note sent to investors.
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Carmila, the retail property owner and manager owned by Carrefour, has bagged €503m in a capital increase, after acquiring a listing earlier in June by merging with Cardety, a smaller French property company.
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The engines of sterling high yield issuance sound louder every week, with luxury carmaker McLaren and RAC Insurance adding supply to the already burgeoning sterling high yield bond market.
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Leveraged loan investors have recently started to win victories on deal terms, but on Thursday French engineering firm Socotec brought confirmation that market conditions are still in favour of borrowers. However, another of this week’s deals underlined the fact that investors can sometimes succeed in getting better terms.
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Instituto de Crédito Oficial (Ico) sold its third social bond on Monday, printing €500m of four year paper with what bankers on the trade said was a skinny new issue premium.
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Guarantor: Kingdom of Belgium (51%), Republic of France (45%) and Grand Duchy of Luxembourg (3%)
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Spiralling core eurozone government yields helped the European Financial Stability Facility pull off a cracking dual tranche trade this week, picking up a hefty €3.5bn at the long end. That led to speculation that other issuers could look to grab some long end funding before the summer — but with rates still rising and a weak French sovereign bond auction on Thursday, the window may have passed.
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Dexia Crédit Local this week brought the first £1bn-plus sterling deal from an SSA issuer since a shock UK general election result in early June, with what one SSA syndicate head away from the trade called a “phenomenal” result. The deal came as speculation mounted that the Bank of England could next month raise its base rate for the first time in more than a decade.
