HSBC

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.

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.

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.

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.

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.

UK construction company Balfour Beatty has nearly halved the size of its revolving credit facility in a £400m refinancing deal.

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.

China Overseas Finance Investment (Cayman) V has opened books on a $1.2bn equity-linked offering of bonds exchangeable into shares of China Overseas Land & Investments.

China Construction Bank (CCB) has launched what is most likely to be the last high profile bond of the year in Asia, opening books for a dollar-denominated additional tier one offering on December 9.

Spreads on Chile’s sovereigns bonds tightened by 1bp across the curve on Tuesday as Latin America’s best rated country began a fixed income investor roadshow.

Westpac was set to print its second foreign currency deal in as many days on Tuesday, but some bankers said the borrower ran into difficulties in euros.

For the third part of our annual awards, we cover Best Local Currency Bond, Best Securitization, Best High Yield Bond, Best Investment Grade Corporate Bond, Best Financial Bond, Best Sovereign Bond, Best Local Currency Bond House and Best G3 Bond House.