HSBC

ICBC Macau provided investors with a now rare form of bank capital on September 3 when it launched a subordinated bond. As Macau does not follow Basel guidelines, the bond is not subject to Basel III regulation.

Indonesia proved it had come of age as a sukuk issuer this week. The issuer built its largest orderbook ever for an Islamic deal and beat its yield target as a result. But more important was the tenor. The sovereign enticed a host of accounts — new and old — into what was its largest and longest dated sukuk yet.

Dutch business publisher Bureau van Dijk has started the autumn run of leveraged loan deals, launching a €620m loan to back its buyout by EQT.

Telekom Austria, the telephone and internet services provider controlled by Carlos Slim's América Móvil, has launched syndication of a €1bn five year revolving credit facility to refinance its loan due in 2017.

China Taiping benefited from increased support for the insurance sector by the China on Wednesday and priced a perpetual bond 42.5bp inside initial guidance on the back of strong demand. Bankers say the transaction marks a change of sentiment towards the credit as its previous transactions had not received much demand.

Korea Hydro & Nuclear Power (KHNP) has mandated five banks to arrange a series of fixed income meetings that is scheduled to kick off from September 8.

Whether it is because investors have full faith in the eurozone periphery recovery story, are desperate for yield or a bit of both, there was little doubt this week that sovereigns in the region will be able to extend their average maturities in the coming months.

Sri Lanka’s National Savings Bank (NSB) made a stellar return to the market on September 2 as its rarity enabled bankers to tighten initial guidance by 35bp and drove pricing well inside where the bank’s debut bond came in 2013.

Industrial and Commercial Bank of China (Macau) opened guidance on subordinator bond issue on September 3. As Macau does not follow Basel guidelines, the bond will not be subject to Basel III regulation.

The Republic of Indonesia launched a $1.5bn 10 year sukuk on Tuesday afternoon, enjoying a smooth bookbuild that left the deal fully subscribed early on in execution. Pricing was fair from the outset, said investors, who were rewarded with a 20bp premium over where the issuer’s conventional dollar bonds were trading.

British cigarette maker Imperial Tobacco has secured financing for its $7.1bn acquisition of brands from Reynolds American, and refinanced its existing revolving credit facilities.

Books for the Republic of Indonesia’s 10 year sukuk are building up with bids already surpassing the $2.5bn mark by early afternoon September 2, according to bankers.