HSBC

A group of retail equity and bond investors in Abengoa are preparing to file a civil lawsuit in Spain — but hope a class action in the US will speed up proceedings.

The Province of British Columbia (BC) has mandated Bank of China and HSBC as joint leads for its debut Panda bond, Mike de Jong, BC’s Minister of Finance, told GlobalRMB. The deal is expected to launch in January and will be the first Panda from a sovereign credit.

Mexican government-owned oil company Pemex held an investor call on Wednesday morning ahead of a planned sterling-denominated trade.

Kuwait petrochemicals firm Equate is scheduled to complete syndication of $6bn of loans this week.

The Republic of Indonesia has gone against its normal strategy of raising conventional dollar bonds at the start of the year by issuing a massive $3.5bn dual-tranche offering on December 1. It broke with its policy for the first time in years in a bid to lock in low rates ahead of this month’s expected rate hike by the Federal Reserve.

Chinese property developer Golden Wheel Tiandi Holdings printed its inaugural dollar bond on December 1, raising $100m from a trade driven by reverse enquiry.

Asset manager AllianceBernstein is offering a drastically different view on the knock on effects from the renminbi’s inclusion in the IMF’s Special Drawing Rights (SDR) basket. While the consensus is that it will have little impact on the desirability of RMB assets, the manager is forecasting a huge spike in demand.

Heineken has been making up for lost time in public debt markets, issuing its second bond of the year after being absent since 2013.

The UK printed a tap of its 0.125% index-linked gilt maturing March 2046 at the tightest spread to the benchmark since it was launched.

Santander was set to sell €1.25bn in seven year fixed rate bonds on Tuesday, appearing in the European senior market for the first time in a year and a half.

Armacell, the German foam insulation manufacturer, has planned loan facilities for its buyout by Blackstone and Kirkbi, a Danish investment firm.

South Korea’s Doosan Power Systems (DPS) bagged $300m from a hybrid bond on November 30, opting for a guarantee from Export-Import Bank of Korea. While it was a win-win for investors and the issuer, market participants are concerned about excessive use of the guarantee.