HSBC
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The Province of Ontario broke the silence in dollar benchmark issuance this week, mandating for a five year deal on Tuesday. Other borrowers are avoiding dollars this week due to holidays in Asia, but Ontario can rely on its strong following in the Americas to push it through, said bankers. -
Five banks have lined up to underwrite a loan and bridge financing to laboratory services operator Cerba Healthcare for PSP Investment’s secondary buyout of the French firm. But the deal comes as Fitch said on Tuesday that buyout multiples have hit a post-crisis high.
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Crédit Mutuel CIC on Tuesday became the first French covered bond borrower to begin and finish pricing at a spread that was markedly through OATs in this part of the curve, but the deal was a smaller size than expected.
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Louis Dreyfus, the unrated, privately owned food commodities company headquartered in Amsterdam, pushed ahead with a senior unsecured bond issue it had previously tried to bring in November on Tuesday.
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On Monday Anglo-Dutch consumer goods group Unilever issued its first sterling bond in three years, aiming for opportunistic pricing and receiving an oversubscription.
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Porr, the unrated Austrian construction company, on Monday priced the first European corporate hybrid bond this year at the tight end of guidance.
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A few of Europe's smaller borrowers are trying their luck now that the storm of issuance that thronged markets through most of January has abated.
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Ray Doody, former EMEA head of leveraged finance, is leaving JP Morgan and is set to join HSBC as global head of leveraged and acquisition finance at the bank.
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P&M NotebookHSBC, despite riding high in the bond league tables, has never had a reputation for being the fiercest global investment bank on the Street. Is that changing?
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HSBC's planned cuts to its investment bank have started to hit its debt capital markets division, with senior bankers in public sector and FIG origination placed at risk.
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