HSBC
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The Housing Finance Corp and Intercontinental Hotel Group refilled the sterling pipeline on Monday, with both issuers hiring banks for deals in the currency.
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UK generic pharmaceuticals company Amdipharm Mercury — also known as AMCo — is closing books on a €163.7m leveraged, having tightened pricing on the back of strong demand. -
Lufthansa is set to make a third attempt at its debut hybrid bond, mandating banks on Monday for a deal that could be priced as soon as Tuesday.
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HSBC’s strength in Asia paid off in the first half of the year, with the equity markets business flying on the back of intense volatility across Asian bourses and the ramp up of Stock Connect. The bank’s restructuring also swung into life, with the sale of its Brazil unit and $50bn of RWAs cut from the investment bank.
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China Reinsurance Corp (China Re) is looking to list on the Hong Kong Stock Exchange via a $2bn IPO in what could be one of the city’s largest debuts this year.
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Greentown China Holdings successfully persuaded bondholders of its two existing dollar notes into a new $500m five year non call three dollar bond on July 31. Bankers on the deal say the exchange offer ended up satisfying both the issuer and investors.
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Asia’s US dollar bond market has started the week with a bang, with China Auto Rental (CAR), Peking University Founder Group and Shanghai Electric opening books for their respective transactions on Monday, August 3.
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HSBC has hired senior banker Scott Couzner to head its mergers & acquisitions team in Australia.
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Greentown China Holdings has opened books to a new five year non call three dollar bond on July 31 following the end of an exchange offer plus consent solicitation exercise a day earlier.
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After last week’s big bang in issuance, history was written and there was even a feeling of awe at investors' capacity for paper. And this week, supply lines continued delivering until just hours ahead of the summer break.
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IBM and National Grid North America both took to the sterling market to sell tightly priced deals this week, showing there is arbitrage on offer for dollar funders — though both issuers kept their deals small.
