HSBC

Banks outside the bulge bracket are pushing to be allowed more influence and information in high yield bond syndications, which have traditionally been tightly controlled by the top banks. Victor Jimenez reports.

Majid Al Futtaim (MAF) priced its latest 10 year sukuk flat or even inside its secondary curve, according to bankers on and away from the deal.

China Cinda Asset Management has sent out a request for proposals for a loan of around $5bn to back its bid for the acquisition of Nanyang Commercial Bank, according to sources.

HSBC Global Asset Management has named Puneet Chaddha as chief executive officer of Singapore as well as head of southeast Asia.

The Democratic Socialist Republic of Sri Lanka has tapped the dollar bond market for the second time this year with a $1.5bn transaction. Even though the sovereign had to pay up more than in its May outing, it ended up executing its largest ever bond.

The surprise devaluation of the RMB in August surprised the markets, but banks are still seeing growing interest in the Shanghai pilot free trade zone (FTZ) as a treasury hub that can help manage local and regional liquidity needs. And the Chinese authorities have just pledged more liberalisation in the future.

A pair of agencies are set to tackle the belly of the euro curve, following a five year euro benchmark from European Stability Mechanism that left the supranational with just €2bn left to fund in 2015.

Procter and Gamble, the US consumer goods company, brought a €1.25bn bond issue to the European market on Tuesday, bringing life to an otherwise moribund reverse Yankee market.

Bank Nederlandse Gemeenten sold its largest ever sustainability bond and the European Investment Bank added a new currency to its climate bonds on Tuesday, as a draft standard was launched for the market.

Republic of Cyprus completed a rare combined syndication and switch offer on Tuesday with 40% of the new issue going to existing bond holders.

Majid Al Futtaim (MAF) on Tuesday opened books on only the second Middle East corporate sukuk of the year, as Islamic bond issuance starts to lag behind the 2014 run rate.

Rizal Commercial Banking Corp (RCBC) has wrapped up its second offering in the dollar bond market this year, finding strong interest from onshore and offshore investors thanks to a rating upgrade from Moody’s.