HSBC

Dalian Wanda Commercial Properties pulled off one last hurrah for Hong Kong’s IPO market this week, raising HK$28.8bn ($3.7bn) in the city’s largest listing for more than three years. The property developer, owned by Chinese billionaire Wang Jianlin, priced its shares on December 16 at HK$48.00, near the top end of guidance, despite niggling fears about China’s cooling property sector, writes John Loh.

Following a record year for offshore RMB (CNH) bond issuance in 2014, HSBC is expecting gross annual issuance for bonds and certificate of deposits to stabilise at around Rmb500bn ($80.8bn) next year.

Dalian Wanda Commercial Properties pulled off one last hurrah for Hong Kong’s IPO’s market this week, raising HK$28.8bn ($3.7bn) in the city’s largest listing in nmore than three years before the market shuts down for Christmas.

French engineering and construction services firm Spie this week cut margins on its €625m 4.5m year bullet term loan E and let another bank onto its arranging ticket.

Dalian Wanda Commercial Properties is expected to price its IPO near the top of guidance to raise HK$28.8bn ($3.7bn) for Hong Kong’s largest listing this year.

Louis Dreyfus Commodities Metals Suisse, a subsidiary of Louis Dreyfus Commodities, has signed an $800m dual tranche loan with a group of 46 banks.

BAIC Motor has raised HK$11.04bn ($1.42bn) after pricing its IPO — one of the last billion-dollar listings for Hong Kong in 2014 — just above the midpoint of guidance.

Four banks have supplied a $1.1bn 365 day loan that helped China Communication Construction Co International (CCCC International) clinch Leighton Holdings’ construction asset John Holland for A$1.15 bn ($954m).

Egyptian General Petroleum Corp is seeking a three year $1.5bn term loan in the first syndicated loan it has obtained from local and foreign banks since 2010, said a banker on the deal.

United Biscuits has cut the margins and rejigged the structure of the £985m-equivalent loan package it is seeking to finance its takeover by Turkish foods group Yildiz Holding.

Insurance capital is finding unexpected favour even as most other European debt markets are stopped in their tracks. With insurers rushing to take in fresh subordinated debt ahead of new EU regulations next month, and investors increasingly receptive to higher yielding instruments from a less volatile sector than banks, more than €2.3bn ($2.85bn) of deals emerged this week. And as Nathan Collins and Graham Bippart report, more could emerge in the coming days.

United Biscuits has cut the margins and rejigged the structure of the £985m-equivalent loan package it is seeking to finance its takeover by Turkish foods group Yıldız Holding (Yildiz).