HSBC
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Taiwanese computer casings maker Casetek’s $300m three year financing has attracted five banks in syndication. -
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Five covered bond borrowers issued benchmark deals in the first half of this week, fearing potential volatility from Thursday's European Central Bank announcement on its sovereign quantitative easing programme.
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While US borrowers dominated senior unsecured issuance this week, Dutch lender NIBC Bank was also able to return to the euro senior unsecured market after an absence of almost three years.
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Russian Standard Bank is making a second attempt to secure investor support for its capital update after failing to generate enough interest first time round. RSB re-launched the consent solicitation for its 10.75% 2018s on January 19.
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Italian electricity company Enel has priced a €1.46bn 10 year bond, to be issued to the holders of six shorter dated bonds, after 25% of the investors accepted an exchange offer.
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International bond investors welcomed back Reliance Industries for the first time in two years as the Indian conglomerate priced a $1bn 10 year offering on January 21. The deal notched up a number of landmarks, being the first Indian credit to come to market in 2015 and achieving the lowest coupon ever for the issuer in the offshore market.
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Australia and New Zealand Bank priced the first offshore renminbi-denominated Basel III bond from a non-Chinese bank on January 21. Not only did the Australian borrower achieve the size and pricing levels it was aiming for, but it also proved that funding in CNH can be cheaper than dollars, potentially triggering more non-Chinese lenders to follow suit, writes Narae Kim.
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The world’s largest utility State Grid Corp of China issued its first euro-denominated bond on January 19, with a €1bn ($1.2bn) deal comprising seven and 12 year notes.
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Russian Standard Bank is making a second attempt to secure investor support for its capital update after failing to generate enough interest first time round. RSB re-launched the consent solicitation for its 10.75% 2018s on January 19.
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Snam, the Italian natural gas transmission company, tapped its April 2023 bond for €250m on Wednesday. The new notes were priced with a very small pick-up, putting some investors off, but the transaction was still more than three times subscribed.
