HSBC

The Province of Alberta's first ever sterling bond exceeded the "wildest expectations" of leads and onlookers. The deal demonstrated the strength of the sterling market and is likely to encourage the issuer's peers to follow suit.

Nationwide Building Society this week issued its first euro benchmark covered bond since the UK’s referendum on leaving Europe and managed to find funding that was two years longer and half the spread of its last deal in February 2016. But it was unable to issue a 15 year.

The first ever sterling bond from the Province of Alberta arrived on Thursday, surprising onlookers and participants alike by breaking the size record for a Canadian province sterling deal. The trade's success is expected to give the issuer's peers the confidence to follow suit.

Nationwide sold a €1bn seven year euro benchmark covered bond on Thursday, its first trip to the market this year.

HSBC is overhauling the leadership of its leveraged and acquisition finance and sponsor coverage teams in Asia Pacific, with some senior changes taking place this week. While sources emphasised this does not signify a retreat, the moves have put a focus on what some consider a somewhat “static” job market for acquisition and leveraged finance in the region. Shruti Chaturvedi reports.

Kuwait Projects Company (Kipco) attracted more than $1.4bn of orders for a new 10 year dollar deal after tightening pricing to 4.75% area.

Reckitt Benkiser has invited as many as 30 banks to participate in a $21bn loan deal, as its all-cash acquisition of US-based Mead Johnson takes shape.

The Province of Alberta is set to make its debut in sterling on Thursday, in a move which may pave the way for its peers to follow suit.

UK mortgage lender Together Financial was the only new deal in the European high yield bond market of the week when, on Wednesday, it sold a sterling offering that received firm demand in a rare example of a single-B name opting for bonds over leveraged loans.

Berlin Hyp issued a well oversubscribed €500m eight year mortgage backed covered bond on Wednesday and attracted exceptional demand from foreign investors, even though the deal was priced tightly.

Hochtief, the German engineering group, has joined the ranks of blue chip names rushing to the Schuldschein market, having launched a €150m deal on Tuesday.

Huawei Investment & Holding Co wrapped up Asia’s first G3 bond from the technology sector this year, pricing its notes through fair value. It plans to become a regular issuer in the capital markets to diversify its funding.