HSBC

The FIG market benefitted from buoyant sentiment this week following the latest announcements in the ECB's easing programme last Thursday. Senior and sub deals are both enjoying good responses, boding well for HSBC's debut additional tier one (AT1) print, set to be priced later today.

After a botched deal in January, China’s Powerlong Real Estate Holdings is back in the dim sum market, opening books for a Rmb1.5bn ($244m) three year paper on September 10. Gone is the issuer’s previously aggressive approach to pricing: the new deal is coming at a huge discount to its existing curve.

The acceleration of renminbi globalisation suggested by this year's flurry of offshore RMB clearing bank appointments does not mean that China is abandoning its approach of gradual experimentation, say analysts. In fact, the country's encouragement of multiple silos is in keeping with the classical Deng Xiaoping method of "crossing the river by feeling the stones", says Pauline Loong of Asia-Analytica.

Barclays is increasing its presence in Asia debt capital markets (DCM) by adding two members to the team, according to sources close to the moves.

Oil rig maker Honghua Group is looking to make a debut in international markets. The Chinese company will be kicking off investor meetings for a proposed Reg S/144A dollar offering this week.

India’s Tata Communications is to meet investors for what would be the borrower’s inaugural bond in the dollar market.

The Government of the Hong Kong SAR opened books for a landmark dollar sukuk on Wednesday, September 10, as the city seeks to establish itself as a regional Islamic financing hub.

Glencore, the Swiss-based commodities trading and mining group, successfully sold a €700m bond on Tuesday, as Europe’s corporate new issue market fell quiet after Monday’s €7.3bn fireworks.

Turkish home appliances and consumer electronics company Arcelik has launched on Tuesday the first ever sub-investment grade emerging market euro deal with no high yield covenants. The note was priced flat to the company's dollar curve and books for the €350m deal were over €900m.

HSBC has decided on a structure for the euro denominated portion of its upcoming debut additional tier one (AT1) deal. It is weighing its options on the dollar portion, according to two investors.

Delachaux, the French industrial company, has launched a €765m loan that will refinance debt and enable it to pay a dividend to shareholders.

Macquarie and Zurich Insurance kicked off what is expected to be a busy week for senior issuance on Monday as issuers looked to take advantage of positive sentiment following last week's European Central Bank meeting. Zurich was able to draw together a comfortably oversubscribed book, while Macquarie printed with only a small new issue premium compared to secondary paper.