HSBC

Pricing for a S$1.3bn ($991m) loan to back the acquisition of Vietnamese state owned Saigon Beer Alcohol Beverage Corp (Sabeco) has come in low, said bankers. Singaporean company Fraser and Neave (F&N), which is borrowing the money, has split the fundraising equally between a term loan and a bridge.

Bankers close to Chile’s international bond market comeback said that the quality of the order book and long-term diversification meant it was worth the sovereign paying as much as 30bp more to sell 10 year debt in euros than it did in US dollars.

Financial services company Far East Horizon has wrapped up a three year loan at a higher than launch size of $272m, with 16 banks. The bullet loan, which has been around since September, features a margin pegged to China’s state-owned Sinochem’s shareholding in Far East Horizon.

The National Mortgage Corporation of Malaysia, or Cagamas, successfully embarked on its debut dollar bond on December 3, just two months after the Kuala Lumpur-based borrower made its debut in the dim sum market.

Grupo Actividades de Construcción y Servicios (ACS) of Spain is in talks with a group of banks to refinance €2.2bn of debt, and plans to complete the deal in January 2015.

Volvo joined the growing group of corporate issuers of hybrid capital on Wednesday, when it priced its first hybrid bonds. The deal was popular with investors, generating €7.4bn of orders.

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.