HSBC
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The Canadian province of Alberta sold on Thursday its largest ever dollar benchmark with a deal that benefitted from a double whammy of being its first as an SEC-registered issuer and a strong credit story for the oil producer following a rise in the commodity's price in the wake of Opec’s decision on Wednesday to cut production.
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National Australia Bank on Wednesday issued its second dollar benchmark of the year and managed to fund it at a tighter level than it could have hoped for in euros. However, the more conspicuous funding advantage for borrowers lies in sterling covered bonds.
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National Australia Bank issued its second dollar benchmark of the year and managed to fund at a slightly tighter level than it could have hoped for in euros. However, the more conspicuous funding advantage is in sterling covered bonds
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Chinese companies have aggressively expanded into Europe this year, snapping up businesses and expanding their footprint. While loans are still the go-to funding tool and often get the bulk of the refinancing, as this week’s China National Chemical Corp transaction shows, the bridge-to bond route is becoming more popular. Morgan Davis and Addison Gong report.
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South Korea's Shinhan Bank raised $500m on Wednesday, to match its March tier two dollar deal in size, but was forced to pay up to make it happen.
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The Republic of Indonesia popped into the market Thursday morning, kicking off December with a new triple tranche dollar deal, the second year in a row it has hit the bond market in the last month of the year.
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Czech telcoms firm Ceska Telekomunikacni Infrastruktura (CETIN) attempted to throw off any emerging markets tag it bears on Tuesday, printing a €625m trade after a long marketing period tailored to investment grade funds in western Europe, according to two bankers on the deal.
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In another sign of the cautious mood gripping the IPO market in Western Europe, Varta AG, the German microbatteries maker, has called off its €150m Frankfurt IPO. Yet the Nordic market continues to show its resilience, as three successful flotations reach their conclusion this week.
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State Power Investment Corp (SPIC) fired the starting pistol in Asia’s dollar bond market this week, selling a $1.2bn dual tranche offering on Tuesday. The state-owned enterprise played off its strong name and high rating, and ended up paying little by way of new issue premium, even though the market was volatile.
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Asia’s debt capital markets opened with a bang on Wednesday with five issuers fighting for attention. Investors have plenty of choice including a euro deal and a trio of dollar offerings from Chinese FIG and corporate names.
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South Korea's Shinhan Bank opened books to its second dollar tier two deal of the year Wednesday morning.
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Rentenbank sold what is likely to be its final benchmark of the year on Tuesday.