HSBC
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The market for socially responsible investment (SRI) bonds is enjoying a burst of activity, as sub-sovereign borrowers from both sides of the Atlantic hit screens in green. -
The bank’s shake-up of its global banking business has already resulted in fresh ideas and big mandates, and now HSBC is looking to conquer M&A, writes David Rothnie.
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German card payments firm Concardis this week increased the term loan backing Advent International and Bain Capital’s buyout of the firm to €300m, reducing price guidance in the process, in a market still waiting on larger buyouts such as Cerba Healthcare to be syndicated.
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The European high yield bond market has rebooted after a February in which US firms dominated sales, with so many local issuers now coming forward that high yield bankers have started worrying that March could be overcrowded if the entire deal pipeline materialises.
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Kuwait National Petroleum (KNP) is in talks with 10 banks over a loan to fund its expansion plans.
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Singapore-based agricultural and commodities firm Olam International added variety to the debt market this week with a $300m bond that had an unusual tenor, as analysts were left divided over the final pricing.
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The strength of the primary debt market in Asia shows no signs of abating, with a number of borrowers heading out on Thursday for fresh dollar fundraisings.
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Travel services provider Hotelbeds has increased its €172.5m term loan add-on to €200m, also cutting the margin guidance from 625bp to 500bp with a 0% floor.
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Hong Kong-listed Singamas Container Holdings has reached out to lenders for a $250m borrowing with one bank at the helm. Although the company posted a loss for the six months to June 30, 2016, its strong balance sheet due to low debt is expected to see the deal through, said bankers.
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Beijing Properties (Holdings), China Everbright Bank and Olam International were vying for investors’ attention on Wednesday in what is a busy week for dollar issuance in Asia ex-Japan.
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KfW and the European Bank for Reconstruction and Development took full advantage of a strong environment to sell dollar benchmarks on Tuesday. Further dollar issuance is rumoured this week — with conditions so good that deals may come despite potential volatility from US president Donald Trump making his first speech to Congress during the New York evening on Tuesday night.
