HSBC
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Portugal shrugged off a domestic bank crisis this week to harness international appetite for eurozone periphery debt with its first syndication after exiting its bail-out in May. Also the sovereign’s first dollar offering since 2010, the deal was several times oversubscribed despite Banco Espirito Santo suffering volatility in equity and bond markets before the sale.
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Two blue chip German companies have issued 25 year euro bonds in the past week in semi-private sales driven by reverse enquiry.
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Phoenix Group on Monday offered up a rare unrated sterling denominated senior bond, representing the UK insurer’s debut in the bond markets.
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Redco Properties Group, the Chinese residential property developer, is meeting fixed income investors this week. Should a deal follow, it will be the borrower's first ever bond. -
French call centre operator Webhelp has tightened the original issue discount on its €120m loan from 99.5 to 99.75, and is due to allocate the deal on Friday.
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Hong Kong's debut sukuk may have moved a step closer to reality, with market sources telling GlobalCapital Asia that banks have been mandated for the deal. At least four of the five banks that have just worked on the UK's £200m sukuk are thought to have been appointed, although no official mandate has been announced.
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The State of North-Rhine Westphalia showed that Swiss franc investors still have an appetite for high quality paper when it returned to the market after a three year absence this week. The paper sold well to a clutch of investors on the hunt for high grade paper, despite a punitive spread through mid-swaps.
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There were big increases in overall volume for Asia Pacific ex-Japan bonds, loans and equity in the first six months of 2014, with bonds and loans posting their biggest ever first half results. DCM rose by 9% from the same period in 2013, to $576bn, while loans jumped 16% to $243bn. ECM volumes were up 15% to $107bn, the highest level since the first half of 2011.
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China's Huawei Technologies has wrapped up syndication of its debut loan in the European market as commitments took the deal to a larger than targeted size of $1.6bn.
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Bahrain's Arab Banking Corp launched a $500m three year syndicated loan into the market on Thursday morning, becoming the second Gulf bank to come to the market after seven years away.
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Chilean state copper company Codelco priced its debut euro-denominated bond issue inside where it could have priced a dollar deal on Wednesday, according to a banker on the deal, as European corporate buyers jumped at the chance for some EM-flavoured yield.
