HSBC

Hyundai Heavy Industries Co printed a $221.6m zero coupon exchangeable bond on June 10, ending a near two-year drought in new supply of such bonds from the country. The deal prompted a huge response, igniting debate about whether the gate has been flung open for Korea’s equity-linked market, writes John Loh.

African Export-Import Bank might enlarge its loan, having received around $1bn of commitments.

Bad debt manager China Great Wall Asset Management Corp has started receiving bids for a three year offering on June 11 and is looking to hook investors with an attractive initial price guidance.

CMA CGM, the French shipping group, raised €175m on Tuesday by tapping its €550m senior unsecured bond, sold on Wednesday last week, when it abandoned a planned dollar tranche.

National Bank of Abu Dhabi set price thoughts on its first ever international subordinated bond at 5.375% on Wednesday morning. Debt bankers away from the trade doubted the issuer could make a sub-5% finish.

Public sector bond markets are under threat from violent price moves and low liquidity for months to come, warned SSA bankers, after government bonds sold off sharply on Wednesday.

Hyundai Heavy Industries Co has started bookbuilding for a zero coupon exchangeable bond issue due in 2020 to raise $209.7m-$221.7m, which comes with a guarantee from Korea Development Bank.

Inter-American Development Bank and KfW have got away with pricing dollar benchmarks of identical tenors on the same day although neither borrower tightened pricing from the initial price thoughts level.

Germany showed six years away from syndications had not left it rusty on Tuesday, as it aced a €2.5bn April 2046 that extended its inflation linked curve by 15 years.

Two first time bond issuers joined the corporate pipeline on Tuesday, with TDF Infrastructure and the University of Liverpool preparing to debut, despite a choppy primary market.

Despite a shortage of deals, leveraged loan investors are winning some battles against aggressive borrowers. The latest casualty is Schenck Process Group.

HSBC announced a new plan to cut assets in its Global Banking and Markets unit on Tuesday morning, following most other universal banks in promising to shrink long-dated rates, restrict its client list to the most profitable and distribute risk rather than holding it.