HSBC
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Issuers from Greater China are set to storm the debt market soon with China Reinsurance Finance Corp, China Cinda Asset Management Co, Grand China Air Co and Pacific Century Premium Developments eyeing dollar offerings. Separately, New China Life Insurance Company has got the green light from its board to raise funds offshore. -
China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.
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Hyundai Capital Services opened books for a 144A/Reg S bond on Monday, its first outing this year. Issuers from South Korea have been active in DCM in 2017, but HCS will be the first non-bank financial credit from the country to woo investors.
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The UAE’s Majid Al Futtaim will begin investor meetings in Asia next week for a subordinated perpetual bond, the first from the Middle East this year.
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Industrial Bank of Korea has bagged W193.5bn ($171.4m) after cleaning up its position in Korean hypermarket chain E-Mart, according to a term sheet seen by GlobalCapital Asia.
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Korea National Oil Corp will host a global roadshow next week ahead of a new international bond, to be sold in dollars and/or euros.
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Spain rode out another volatile day in eurozone government bonds on Wednesday to finish up with a healthy €5bn of 15 year paper from an order book nearly treble that size.
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A big step in restoring Italy's banking sector to health was taken successfully this week, when the fifth biggest EMEA equity sale ever raised €13bn for UniCredit.
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The superlatives “fantastic”, “surprising to the upside all the time” and “huge tightening” were being thrown around about the public sector dollar market this week — the only missing ingredient appears to be supply.
