HSBC

The Province of Ontario sold a five year global bond on Wednesday, shattering the silence in public sector dollar markets with a $2.5bn trade.

HSBC has promoted Hossein Zaimi to become global head of equities, replacing Patrick George in the role, who continues as EMEA global markets head.

The frenetic pace of January’s SSA issuance may have abated but some issuers are still making the most of supportive conditions to pull off good deals.

Philippine lender BDO Unibank has sealed a rights issue worth Ps60bn ($1.2bn) in the largest ECM transaction in the country in nearly four years.

KWG Property Holding signed a dual currency term loan with a group of lenders on January 27, with the money to be used for refinancing and corporate funding requirements.

Fondo de Amortización del Déficit Eléctrico (FADE) was warmly welcomed by capital markets on Tuesday for its first benchmark in 18 months, while Asian Development Bank hit screens looking for its first syndicated euro deal in almost three years. HSH Finanzfonds also raised cash on Tuesday.

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.

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.

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.

On Monday Anglo-Dutch consumer goods group Unilever issued its first sterling bond in three years, aiming for opportunistic pricing and receiving an oversubscription.

Porr, the unrated Austrian construction company, on Monday priced the first European corporate hybrid bond this year at the tight end of guidance.