HSBC

Whether or not the European Central Bank announces a programme of sovereign quantitative easing at its next meeting on Thursday or — as many analysts predict — in the first quarter of next year, eurozone countries are already taking advantage of the plummeting borrowing costs generated by the expectation of central bank action.

Chile entered the market on Wednesday with its debut euro trade. It is also expected to announce a long dollar 10 year at the US open, which investors say could be printed at a yield of lower than 3%.

China’s largest nuclear power producer, CGN Power, has priced its IPO at the top of its range to raise HK$24.5bn ($3.2bn), thanks to overwhelming demand from institutional and retail investors. But final allocations have proved a challenge, with some bankers complaining about the lack of transparency.

The Hong Kong ECM market is preparing for the largest IPO since 2011 with Dalian Wanda Commercial Properties hitting the road on Wednesday for its jumbo listing of around $5.5bn. Cornerstone investors are already queuing up and many international names are also putting in bids — a clear indication that the deal is not going to be a friends and family affair that is characteristic of many Hong Kong listings.

The National Mortgage Corporation of Malaysia, or Cagamas, opened books on December 3 morning for its maiden dollar bond, just two months after it made its debut in the dim sum market.

Sunac China Holdings joined the procession of Chinese property companies that have come to the market since China cut borrowing rates. The company raised $400m from a five non call three year bond on December 2.

British Car Auctions, the UK second hand car seller, has marketed £270m of secured leveraged loans at a bank meeting today, as part of a refinancing of its debt structure.

Spie, the French engineering and communications firm, gave price guidance for its €911m loan at a London bank meeting on Monday.

HSBC is to see a senior departure from its loans business in the United Arab Emirates.

Agricultural Bank of China (Hong Kong) is tapping the debt market for the second time this year, opening books for a three year transaction on December 2. But unlike its earlier trade, which was done in offshore renminbi, the issuer is engaging investors for dollars.

CGN Power has closed books a day earlier than scheduled after seeing massive oversubscription for its HK24.52bn ($3.16bn) IPO, with pricing now likely to be done overnight.

Chinese property developers are making the most of the bullish sentiment following the recent post-rate cut to price dollar bonds.