HSBC

Glencore launched its refinancing of a one year $8.45bn loan today (Thursday), which is hotly anticipated although the margin is set to widen as the company's credit spreads have surged to record levels.

LGC, the UK life sciences company, has set price talk on its £500m debt package backing its acquisition by KKR from Bridgepoint after holding bank meetings January 13.

Portugal is limbering up for its first benchmark of the year in a week heavy with eurozone periphery sovereign issuance, including an auction where Italy’s three year yield nearly dipped below zero.

China Nonferrous Metal Mining and Vista Land & Lifescapes are meeting investors ahead of their respective dollar offerings, while Hangzhou Hikvision Digital Technology is set to gauge interest in Europe for a euro-denominated deal.

The drawing power of one of Asia’s top credits was on show this week with Ping An Life Insurance Co of China debuting in the dollar bond market with a $1.2bn deal that was multiple times covered across two tranches.

South Korea’s Woori Bank sealed a 144A return to the international bond market on January 12. The issuer’s aggressive pricing strategy kept US investors at bay, but it was unavoidable as the borrower wanted cheap funding, said bankers on the deal.

Banks on Euro Garages' £745m acquisition debt package have set price talk, with bank meetings taking place on Tuesday.

Intesa Sanpaolo opened the 2016 additional tier one (AT1) market on Tuesday with its euro debut, and is now over halfway to its 2017 issuance target.

BankDhofar of Oman has followed the recent rush of Middle Eastern banks to the loan market for funding and signed a $250m three year club loan with six banks.

Chile has tightened price guidance on the first bond from Latin America this year, a 10 year euro-denominated deal, to 115bp area over mid-swaps.

Banks now know where they need to be in terms of the FSB’s total loss absorbing capacity (TLAC) requirements, but one big problem remains: how they’re going to get there. Tyler Davies reports.

There were dramatic moves in the offshore renminbi market on the morning of January 12 as the spread between onshore RMB (CNY) and offshore RMB (CNH) all but disappeared. And, in a radical development, the People’s Bank of China (PBoC) purchases of CNH in Hong Kong drove the overnight CNH Hong Kong interbank offered rate (CNH Hibor) to a record 66.8%.