HSBC
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The European Financial Stability Facility blindsided investors this week, printing €6bn of 16 year paper despite having completed its second quarter funding requirements, stretching the tolerance of its €10.8bn book in the opinion of some onlookers. -
UniCredit, HSBC and BBVA opened books on new additional tier one (AT1) bonds this week, as banks took advantage of extremely supportive primary market conditions to bolster their stocks of debt capital.
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Suez Environnement, the French water and waste company, launched a €750m capital increase this week, to partly finance its €2.55bn contribution to the takeover of GE Water, in partnership with Caisse de dépôt et placement du Québec.
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US cloud and physical data manager Iron Mountain’s €300m deal proved European investors can give US IT company debt a chance despite some troubled recent deals.
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BOC Aviation priced its latest five year bond well inside theoretical fair value, helped by its strong financial position, a healthy book and a clear existing curve. But its secondary performance was affected on Thursday by the political turmoil in the US that has caused volatility.
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HSBC has promoted Sheldon Wong to head its Middle Market Financial Sponsors (MMFS) team in Asia Pacific, a segment tipped to grow alongside the region’s increasing M&A volumes.
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The European Financial Stability Facility confounded the expectations of syndicate bankers by opting to print €6bn of 16 year paper, despite having completed its second quarter funding programme.
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The Province of Manitoba raised £350m with its first ever sterling benchmark on Wednesday, becoming the fourth Canadian province to print in the currency this year.
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The SSA market has played host to a series of strong deals this week and shows no signs of fatigue, as investors flock to make the most of the glut of supply.
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Garanti Bank on Tuesday raised $750m with the tightest priced Turkish tier two on record which was testament to the level of comfort investors now have with the product, according to bankers leading the transaction who conceded that the global credit rally had also helped.
