HSBC

Varta AG, the German maker of micro-batteries for hearing aids and wireless headphones, has withdrawn its Frankfurt IPO that was due to be priced on Tuesday, blaming the “current unfavourable market environment”.

Companies are continuing to use windows for corporate bond issuance ahead of Sunday’s Italian referendum, as three borrowers hit the euro bond market on Tuesday.

After several weeks of discussions with investors Ceska Telekomunikacni Infrastruktura (CETIN) finally hit the screens with a new bond on Tuesday – though it had to sweeten the deal with a coupon step-up – and had pulled in over €1.4bn of orders by mid-morning.

K Wah Financial Services is said to be on the hunt for a HK$6bn ($773.6m) five year facility. The company was last seen in the loans market in May this year, when it sealed a HK$2.4bn borrowing.

Global Financial Markets Association (GFMA) announced a series of management changes on Monday US time, including the appointment of a new chief executive officer.

State Power Investment Corp (SPIC) kicked off this week's Asia bond market, opening books to a dual-tranche offering on Tuesday morning Asia time.

Rentenbank has announced that it will sell a five year dollar bond on Tuesday, winding up its 2016 funding programme and making the most of what a banker at one of the leads called “one of the last good windows of the year”.

Coventry Building Society has mandated leads for a roadshow ahead of a possible €500m seven year covered bond. The announcement follows further rates volatility and the withdrawal of most bids in the secondary market.

SP Mortgage Bank got a strong response this week for its first covered bond, partly due to its defensive five year maturity, while Caffil did well to issue a 15 year deal despite soaring volatility.

HSBC's Bryan Pascoe, former head of DCM and more recently group treasurer, has switched jobs at the bank to become global head of client coverage in its commercial banking division.

Volkswagen Financial Services completed its fifth, and to date largest, Chinese auto loan asset-backed securitization fetching Rmb4bn ($581m) from its Driver China five transaction on Tuesday.

Hong Kong’s Dah Sing Bank raised $250m from a tier two deal on Tuesday, finding support from investors that were familiar with its credit.