HSBC
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Unrated Portugeuse insurer Fidelidade resurrected its plans to print a tier two bond on Friday – almost three years after its first attempt at accessing the format. -
Hong Kong property company New World Development Co sold a perpetual bond this week, raising $1.2bn to fund a tender offer for a fixed-for-life deal.
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Times China Holdings, Yango Group and Greenland Hong Kong Holdings, all of which are real estate developers, raised $840m between them from the bond market on Thursday, continuing a recent revival in issuance from the sector.
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Banks have enjoyed a hot funding streak in the sterling market in recent weeks, with pent up demand pushing supply towards its highest year in over a decade. Some market participants, however, are worried the superlative conditions might vanish just as quickly as they appeared.
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University College London has issued the first public ESG-labelled bond from the UK’s higher education sector, which it priced flat to fair value. But bankers say that while the demand is there, a lack of supply means deals like this are going to be a rarity.
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HICL Infrastructure and JLEN Environmental Assets, two London-listed infrastructure funds, this week signed ESG-linked loans that use Sonia instead of Libor. But loans bankers are still worried about the large number of deals that have not moved away from Libor, which falls out of use on December 31.
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University College London has issued the first public ESG-labelled bond from the UK’s higher education sector, which it priced flat to fair value.
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Portuguese insurance company Fidelidade is looking to sell a tier two bond this week, three years after first exploring the idea of issuing a subordinated debt instrument.
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French banks and foreign rivals are slugging it out in France’s corporate finance boom, where proximity to the government is an advantage, writes David Rothnie.
