HSBC
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The euro market provided a mixed bag this week with Royal Bank of Canada pricing a €1.25bn five year FRN just a day after Banco Sabadell was forced to pull a four year bullet.
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Covered bond new issue premiums fell this week as six issuers raised a collective €5.5bn in three currencies with total demand of almost €8bn.
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Abu Dhabi's Union National Bank is looking for a margin of 75bp over Libor for a $500m three year loan, according to a banker on the deal. -
Beijing Capital Juda last week priced its first bond, raising Rmb1.3bn ($209m) from an oversubscribed three year deal that saw investors eager to gobble up a dim sum trade.
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Central China Securities Co wrapped up its HK$2.53bn ($327m) placement on July 24, allowing its shares to resume trading on July 27 after what had turned out to be a longer-than-usual bookbuilding process.
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IBM dipped into the sterling market on Wednesday for a small but sharply priced seven year print. While some expected a larger deal size than £300m, they agreed that the deal was a positive sign for a market that has seen declining supply in 2015.
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International schools operator Cognita on Tuesday began roadshowing its £280m bond, becoming the second borrower from the private education industry in the speculative grade market this year.
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Citic Capital Holdings has hit the market for a HK$1.8bn ($232m) three year loan, with six mandated lead arrangers and bookrunners in tow. The company is paying a lower margin for the three year borrowing than for a two year it signed in 2013.
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South Korea’s Shinhan Bank wrapped a successful return to the offshore renminbi market on July 27, raising more than initially aimed on the back of strong demand. The issuer was also able to price the new dim sum bond inside its dollar curve thanks to a favourable cross currency swap (CCS).
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British retailer House of Fraser on Monday announced a £175m floating rate issue, part of an all debt refinancing strategy that includes loans and new revolving credit facilities.
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Central China Securities Co wrapped up a HK$2.53bn ($327m) placement on July 24, allowing its shares to resume trading on Monday after what had turned out to be a longer-than-usual bookbuilding process.
