HSBC
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The Bank of England's Financial Policy Committee released its updated guidance on leverage ratio requirements on Friday afternoon. The new ratios look positive for the UK's largest lenders, being considerably less demanding than the worst case scenarios and with all but one of the country's global banks already meeting their requirements.
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Intu Properties, the UK real estate investment trust, signed a £600m revolving credit facility on Friday. The five year loan carries a two year extension option.
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Great Portland Estates (GPE) has signed a £450m revolving credit facility with a group of seven relationship banks to refinance two loans.
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Market participants are bracing themselves for an onslaught of bank capital deals in the coming weeks after another member of China’s big four banks – China Construction Bank (CCB) – announced it will be meeting investors for a CNH tier two trade.
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China Construction Bank International (Holdings) is in the market for a $100m three year loan with one mandated lead arranger and bookrunner.
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Tata International priced the first ever Singapore dollar denominated perpetual bond from an Indian issuer on Thursday. Although small, the deal received strong support from private banks and was over six times subscribed.
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New World China (NWC), the flagship mainland property arm of Hong Kong’s New World Development, has used a letter of support to price a five year dollar bond.
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Government owned copper company Corporación Nacional del Cobre de Chile (Codelco) raised $980m of 30 year bonds on Tuesday in the fifth cross-border bond issuance from the country in five days as part of the government’s plan to modernise the company.
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As the Canadian financial sector and provinces strive to create a North American renminbi hub within the sovereign’s borders, SSA issuers from the country have shown their support for the currency by returning to the dim sum market with a bang.
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The pricing deadlock between supranational and agency issuers of green bonds and investors began to fracture this week, after NRW.Bank sold paper that some bankers said was priced through its conventional curve.
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Syndicating a reopening of a 55 year bond in a month where sterling was shaken by volatility could have been tough for the UK Debt Management Office this week. But it passed the test with flying colours, attracting its largest book ever on an ultra-long syndication and breaking the 3% yield bogey for the first time.
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Investors have successfully pushed pricing wider on three leveraged loan deals that are closing this week, with RAC, a well liked credit, the latest to flex for investors.