HSBC

JAB Holding, the investment company of the Reimann family, has issued a debut €750m seven year bond. Real money investors took 96% of the allocations and the bond was priced inside the secondary level of Wendel, the French investment company, though it softened slightly in the secondary market.

Beijng Infrastructure Investment has been a regular in the offshore debt market this year, and printed its third bond on November 13. But there was a strategy behind its frequent appearances, the first two testing the water ahead of a much larger trade this time around.

Formosa Group Cayman Islands launched a $1.2bn seven year loan into general syndication on November 12 with three arrangers, which are syndicating it on a best efforts basis.

Bank of East Asia raised $500m in its first Basel III deal, managing to attract a huge order book which allowed bankers to tighten guidance by 30bp.

Regulators have agreed a first round of fines over rigging the G10 FX markets, but with big beasts such as the US Department of Justice conspicuous by their absence from the settlement, there could be plenty more to come.

Market participants at the International Capital Markets Association’s primary markets forum on Wednesday questioned the value of technological developments in the syndication process that could remove human contact from the process. But regulatory and cost pressures will make technology all the more important, and arguably the last decade of bond market growth could not have happened with using technology to accelerate the new issue process.

Endemol - Zenith Bank - 3i - Faurecia

The November deluge of dollar supply continued as companies from across the high-grade spectrum printed a total of $25bn in three days of issuance this week, led by nervous energy and resources companies.

BMW became the latest in a string of international and non-UK companies to issue short dated sterling bonds recently, when it priced a £300m five year on Thursday.

Sterling investors got a rare treat on Thursday from Yorkshire Building Society, which re-entered the tier two market for the first time in years, building a four times oversubscribed book.

The third time worked the charm for Aareal Bank, when on Thursday it sold what is likely to be its only additional tier one deal after having twice postponed sales this year amid spikes in market volatility.

Lloyds took centre stage in the senior unsecured FIG market this week, drawing an order book of around €7bn for a seven year bond, as it made the most of the noise surrounding regulators' plans to implement a total loss absorbing capital (TLAC) measure.