HSBC
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Chinese real estate developer Logan Property Holdings launched a two-day roadshow on Tuesday as prepares its maiden dim sum bond six months after selling its inaugural international issue.
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The recent spate of bond issuance in euros by US companies continued on Friday as Praxair, the Connecticut-based industrial gases group, sold a €500m 11 year bond with a minimal new issue premium.
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HSBC has shifted the public sector DCM coverage it had in New York to London. The move affects Kevin Galligan, who was told of the decision last week, it is understood.
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United Internet, the German internet services provider, allocated a €600m Schuldschein issue today. The investors were German and international commercial banks and German savings banks.
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United Biscuits drew a flock of lenders to the bank meeting on Friday for its £985m-equivalent loan for its acquisition by Yıldız of Turkey. Banks in particular are eager to gain a relationship with a new company in the European leveraged finance market.
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QBE Insurance is set to become the second Australian financial to tap the dollar market for a tier two bond that would convert to equity or write down upon point of non-viability (PNV).
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It’s often the simple things that can make all the difference in whether one has a productive meeting. Room ergonomics, the view out of the window and a decent cup of coffee are all apposite metrics to consider in relation to your loan banker’s psyche.
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CGN Power is on track to be Hong Kong’s biggest IPO in 2014 as investors jostled for a piece of China’s largest nuclear energy producer, with institutional books already multiple times subscribed on day one of bookbuilding.
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Korea East-West Power Company has opened books for what it looks to be the country’s last offshore bond this year. The five and half year 144A/Reg S bond had attracted an order book of $1bn by Monday afternoon.
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Chile has mandated banks for a roadshow with a multibillion dual currency issue expected to follow and mark the return of Latin America’s best rated sovereign to international bond markets after a two year absence.
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Thursday was a busy day for European investment grade corporate bonds, with €4.9bn issued in euros and sterling. But with a great deal of diversity of issuers, maturities and currencies, the market had more appetite for some than for others.
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Israel Chemicals pulled in a $4.3bn book for its debut bond on Thursday, proving that quality still sells in a market where several deals have been pulled this week, including by KazStroyService on Monday and South Africa’s FirstRand Bank on Thursday.