HSBC
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Standard Chartered and Lonmin will each begin a new chapter in their stories on Friday, as results are published of their rights issues, books for which closed on Thursday.
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Repsol, the Spanish oil producer, issued a €600m five year 2.125% bond on Wednesday, in a torrid week for commodity markets, to finance a buyback of some Talisman Energy bonds.
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Canadian Imperial Bank of Commerce took advantage of a back-up in three year euro swap yields following the European Central Bank meeting last week to issue a covered bond of the same tenor.
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Intesa Sanpaolo issued a €1.25bn 10 year covered bond on Wednesday, a transaction that did not initially seem to be an obvious trade, but which in the end proved very successful.
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Oil services company Fugro on Thursday cut the size of its credit facilities from €775m to €500m, with one bank dropping from out of the lending group.
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China Overseas Finance Investment (Cayman) V raised $1.5bn from an extremely popular exchangeable bond on Wednesday, with the order book swelling to twice that amount.
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China’s Panda bond market is gaining plenty of traction with Standard Chartered becoming the third foreign bank to sell notes in the onshore renminbi market this year. And with a pair of sovereign issuers eager to launch their deals, the asset class is set to soon eclipse dim sum bonds, writes Rev Hui.
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Kuwait petrochemicals firm Equate has delayed signing $6bn of loans until next week because the firm’s board members are still waiting on approvals, said bankers.
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China Construction Bank broke the pricing record for the Asian additional tier one (AT1) sector this week, raising $3.05bn with a headline coupon of just 4.65%. Although this was the lowest coupon ever achieved by an Asian bank in the AT1 market, investors were more than happy to pour into the trade.
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Repsol, the Spanish oil producer, issued a €600m five year 2.125% bond today, in a torrid week for commodity markets, to finance a buyback of some Talisman Energy bonds.
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UK construction company Balfour Beatty has nearly halved the size of its revolving credit facility in a £400m refinancing deal.
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Corporate bond bankers are busy, for this time of year. While they are usually up for doing deals, it is clear investors, too, are in no hurry to close their books for the year, but are keen to buy paper, despite the let-down of the European Central Bank’s lukewarm QE boost last week.