HSBC

A trio of public sector borrowers comfortably printed at the long end of the euro curve on Wednesday, but the deals suggested a slowdown in demand after a bumper April for the currency.

Arrow Global, the UK consumer debt manager, will start investor meetings on Thursday for a €225m floating rate note to fund its buyout of InVesting BV and repay its revolving credit facility.

A stream of SSA borrowers entered the primary bond market this week in both euros and dollars. Dual tranche deals were popular as borrowers sought to take size without paying heavy new issue premiums.

Yunnan Provincial Energy Investment Group is looking to issue its first dollar bond and has hired banks to set up investor meetings.

Beijing-based Sunshine Life Insurance Corp has opted for a triple-tranche offering for its debut in the offshore bond market, dividing the trade into three year, five year and 10 year notes.

Taghleef Industries, the Dubai-based food packaging film maker owned by Al Ghurair Group, is marketing a €280m seven year loan.

A hungry euro market gorged on deals from France and the European Union on Tuesday, instilling confidence that a trio of trades on Wednesday’s menu will go well — despite two of them being in the same tenor.

Only domestic banks joined Borusan Holding’s $400m loan in syndication, although lead banks had hoped the deal would entice a global syndicate.

South African furniture retailer Steinhoff International has nearly completed syndication of its £920m loan to buy French retailer Darty, according to a banker close to the deal.

Korea Resources Corp (KoRes) managed to brush away concerns about Moody’s decision to review its rating for a downgrade, raising more than expected from its latest bond outing. The deal’s high quality order book stood out when compared with some other recent transactions from peers.

HSBC has appointed Hamish Kelly as head of global banking for Australia, replacing Chris Russell, who recently took over as chief executive for New Zealand.

Chinese search engine company Baidu is dipping its toes into the international loan market for a $1bn debut fundraising, following in the heels of other technology majors like Alibaba Group and Tencent.