HSBC

Bank of Communications’ investment banking arm has scooped up HK$1.8bn ($231.2m) from its IPO, pricing near the bottom of guidance to ensure a quality book.

Cheung Kong Property Holdings (CKP) wrapped up Asia’s largest fixed-for-life perpetual on Thursday with a 4.6x covered $1.5bn bond. The group’s credentials and the rarity value of high grade corporate perps added to the deal’s success, helped also by the fact that the instrument has its own following, said bankers.

Bank of East Asia wrapped up a new Basel III additional tier one deal on Thursday, applying the lessons it learnt from its previous subordinated note outing.

One of Asia’s most frequent borrowers BOC Aviation has mandated six firms for a dollar-denominated Reg S outing, with roadshow set to take place early next week.

Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.

The European Union has issued its first-ever Schuldschein, and may issue further such deals.

The SRI bond pipeline for public sector borrowers looks fit to burst, with a string of issuers planning deals and KfW setting a marker with a thumping trade this week.

Dutch biotechnology firm Qiagen has launched a tightly priced €150m dual currency Schuldschein, with investors treating the Germany-headquartered firm as a domestic issuer.

Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.

Rabobank has mandated leads to take its debut covered bond on the road. Covered bonds will improve Rabobank’s net interest margin and help diversify its investor base, the bank’s global head of long term funding, Sjaak-Jan Baars, told GlobalCapital.

CK Hutchison sold a hybrid bond featuring a dual-step structure this week, designed to qualify for partial equity treatment from ratings agencies. While demand was strong for the $1bn deal, priced off the back of a $4.25bn book, some handholding was needed to make investors comfortable. Addison Gong reports.

South Korea’s Woori Bank sealed its third Basel III additional tier one deal on Monday, raising $500m just before the country held its long-awaited presidential election.