HSBC
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International Personal Finance, the UK company that makes small personal loans in emerging markets, has announced today a brief roadshow for a tap of its euro bond, after last week pulling a sterling retail bond that failed to attract enough interest.
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Noble Group, a commodities supplier that launched a $2.25bn fundraising recently, is fending off further criticism of its financials and debt levels, with research firms Muddy Waters and GMT having issued new reports on the company. -
Mexico’s funding head admitted to GlobalCapital that extending the sovereign’s euro-denominated curve to the 100 year point was not an “end in itself”, but said the deal was part of its broader external debt issuance strategy.
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The senior unsecured market saw a spark of life despite the holiday shortened week, with €4.66bn equivalent getting away in two business days.
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With rates at historic lows pushing euro investors towards long dated debt, Mexico seized the opportunity to make capital markets history this week with the common currency’s first sovereign century bond, writes Virginia Furness.
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The primary market in covered bonds was active this week, but not in its staple euro market. Canadian issuers came to the fore, supplying benchmark deals in sterling and dollars.
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UK information and events group Top Right is finalising its £435m-equivalent refinancing loan in dollars and euros, with pricing likely to finish within the initial guidance range.
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Pacific Basin Shipping raised $125m from a convertible bond on April 8, pricing the trade in the middle of guidance. A shadow bookbuild, a recent rally in the company’s stock, and the reluctance of the issuer to push investors too hard on terms ensured a successful outcome.
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The Republic of Turkey priced its 11 year bond with a minimal new issue premium as the savvy borrower made the best of low supply in the dollar market.
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Malakoff, an independent power producer, has attracted 11 domestic cornerstone investors for almost 75% of its MR2.74bn ($744.16m) IPO, in a strong show of support for what is the biggest IPO in Malaysia since 2013.
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Shinhan Bank’s red hot $600m five year bond this week impressed the market with its top notch pricing and timing. The $4bn order book was certainly eye catching, but observers were also won over by how the deal was able to shock a subdued Korean DCM market back into life.
