HSBC

National Bank of Abu Dhabi has released initial price thoughts for a five year dollar benchmark at 90bp over mid-swaps, equating to only around a 10bp pick-up from the secondary trading of its August 2019s.

Reliance Industries tapped the dollar bond market for the second time in two weeks, raising $750m from a 30 year bond on February 3. Even though it was not by design, having the deal come at a later stage proved to be a masterstroke as Reliance was able to achieve some top notch pricing.

The month-long gloom surrounding Chinese property credits looks to be finally dispersing after Shimao Property Holdings priced the sector’s first high yield bond of the year on February 3. Not only did the transaction attracted a huge order book, it also managed to attain solid pricing, which paves the way for its peers to follow.

Chinese technology giant Tencent has decided to go ahead with a Reg S/144A transaction while it was in the middle of non-deal roadshow after it wasencouraged by strong feedback from US investors and the recent robust trading sessions.

The Luxembourg branch of Industrial and Commercial Bank of China is planning its very first outing in the offshore debt market, having mandated banks for a US dollar Reg S offering.

The first mainstream European equity-linked issue of 2015 came on Tuesday, as the Dubreuil family sold a bond exchangeable into shares of Rémy Cointreau, the French spirits group they control.

SNCF Réseau had little problem tempting investors back to its paper after a rebranding from Réseau Ferré de France, as it sold its largest ever benchmark on Tuesday.

Ford Credit Europe Bank, the US car maker’s European financing vehicle, found plenty of demand for a €650m three year floating rate note and a €650m seven year fixed rate bond on Tuesday.

Heathrow, London's largest airport, issued a €750m 15 year class A secured bond on Tuesday, extending its euro curve by eight years. Despite the bonds arguably being priced through Heathrow's euro curve, the deal was more than three times oversubscribed.

Reliance Industries is back in the dollar debt market for the second time in two weeks, taking advantage of strong residual demand to launch a 30 year bond on February 3.

Shimao Property Holdings is looking to be the first high yield property name from China to tap the offshore bond market this year, opening books to a 7 non call 4 dollar transaction on February 3. And many market participants are keeping a close eye on the deal as they see it as a benchmark for a sector that is still reeling from its first offshore bond default.

Host Europe, the German online hosting provider, expects to close books for its £535m loan for the acquisition of Intergenia by the middle of this week, after the consent process for the deal took longer than expected.