HSBC
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The US private placement market has hosted a few whopper deals from European issuers this year, but overall dealflow has been underwhelming. Meanwhile, the Schuldschein market has had its second busiest quarter ever and has already led bankers to raise their full year volume predictions. Rob Cooke and Elly Whittaker report. -
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HSBC has created the new role of head of corporate and institutional digital, which will be filled by Niall Cameron, who had been head of global markets EMEA.
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After five months of silence, corporate issuers have returned to the Kangaroo bond market as pent up demand provides a ready home for paper.
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After a slow start to the week, a torrent of covered bonds was priced on Wednesday and Thursday, as issuers sought to move quickly in case the market succumbs to one of many potential political risks it faces this month.
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HSBC has begun cutting some of its most senior bankers as part of the restructuring announced in February, when the bank said it would combine its banking and capital financing units.
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Abu Dhabi's Mubadala has tightened the margin on its $1.75bn three year refinancing, despite the price on the original loan already being “eye-wateringly low”, according to one banker.
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The southeast Asian high yield market saw some long overdue activity this week, with Indonesia’s Sri Rejeki Isman raising $350m from a liability management exercise. With volatility and low commodities prices forcing high yield issuers from the region to stay away from the market this year, Sritex’s success has now flung open the door to new issuance, writes Narae Kim.
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Majorca-based travel services operator Hotelbeds has released price guidance on its €490m cov-lite seven year term loan ‘B’ following bank meetings on Tuesday in London.
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Political turmoil has stopped from Croatia printing its planned euro Reg S issue, having completed a two day roadshow for the deal on Tuesday.
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Investors piled over $4bn into Republic of Turkey’s latest sukuk offering on Wednesday, following a cabinet reshuffle on May 22 which the market took as a positive signal amid the increasingly authoritarian rule of president Recep Tayyip Erdogan.
