HSBC
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Nationwide Building Society and ASB Bank tapped the senior unsecured sterling market this week, bringing what are likely to be among the last trades in the currency before a break before the UK general election. -
UK engineering group Smiths’ second euro bond was 2.3 times oversubscribed on Thursday. The issuer is a rare name in euros, and the deal was preceded by a three day roadshow.
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German investment company JAB Holding has issued a €600m 10 year bond to refinance a term loan maturing in 2016, after securing a ratings upgrade from Standard & Poor’s.
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Turkish banks finally look set to become part of the covered bond market this year as Akbank lines up its first euro-denominated benchmark.
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US plastics manufacturer Trinseo on Thursday priced $700m of senior unsecured bonds in dollars and euros, saving at least 200bp compared with the interest on the 8.75% bond the company wants to repay.
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Denmark’s KommuneKredit was able to reach its maximum target size with a first sterling benchmark on Thursday.
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Elis, the French workwear and bed linen laundry company, priced an €800m bond on Wednesday, its first issue since its €750m Paris IPO in February, to refinance in full its senior secured and subordinated notes.
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NordLB is set to become the first of Germany’s Landesbanken to sell an additional tier one trade, mandating banks on Thursday to roadshow a debut print.
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Nationwide hit the sterling market for a seven year print on Thursday, selling what some bankers reckon could be the last senior sterling before the UK’s general election.
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Ahli United Bank sold its $400m tier one bonds on Wednesday, with leads having positioned the deal between Burgan Bank and National Bank of Kuwait.
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This week's record-breaking dual currency bond from China Petroleum & Chemical Corporation (Sinopec) showed just how far Chinese issuers have come in the international bond market over the past few years. Sinopec managed to print an impressive $6.4bn and by doing so elevated its status to one of the elite borrowers in the region, writes Rev Hui.
