HSBC
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Abu Dhabi's Union National Bank has closed books for its three year loan and will increase it from the launch size of $500m, according to a banker on the deal. -
A pair of SSAs hit screens with euro benchmark mandates on Monday — and bankers are confident that market conditions will stay bright to support even more expected supply.
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HSBC has named former CLSA banker Andrew Maynard as head of sales trading and execution services for Asia Pacific equities, along with three other fresh senior hires for the unit.
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Citic Capital Holdings has wrapped up its latest fundraising at HK$3bn ($387m), higher than the launch size of HK$1.80bn thanks to solid demand. The outcome was largely predicted by bankers as the company’s previous loan too was oversubscribed.
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Shares in Abengoa, the troubled Spanish renewable energy company, plunged again on Thursday and its credit default swap spread widened sharply, on unconfirmed reports in the Spanish press that banks including Bank of America Merrill Lynch, Citigroup and Société Générale had declined to underwrite its rights issue.
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Tractel is preparing to join a relatively quiet early September leveraged loan market with the launch of a €235m loan package next week.
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Poland reopened the CEEMEA bond market this week after investors in search of safe havens pushed central Eastern European sovereign spreads tighter. Uncertainty over the timing of a US rate hike has left buyers wary of more typical EM names and left CEE sovereigns among the select few that could avoid paying heightened premiums.
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IPO bankers are treading cautiously around two of the post-summer season’s most highly anticipated trades in Hong Kong, after a global sell-off in stocks sent investors packing and clouded the outlook on shares sales with China links.
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Two French borrowers took advantage of a resurgent corporate bond market on Wednesday, with electrical components manufacturer Schneider Electric and real estate company Icade selling euro debt.
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Bankers are pointing to sovereigns from central Eastern Europe as the best hope for CEEMEA supply although much of the region is bound by the uncertainty of when the US will start to raise rates.
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European Investment Bank has added further evidence of the euro market’s growing strength over dollars — but its deal was still at the lower end of Earn size expectations despite a decent new issue premium.
