HSBC
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Phoenix Group-owned PGH Capital is set to issue an unrated sterling denominated senior bond, representing the UK insurer’s debut in the bond markets under its Phoenix brand.
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Independent Clinical Services, the UK temporary staff provider for health services, is raising a £239.5m loan to back its acquisition by Towerbrook Capital Partners. -
HSBC has created a dedicated UK investment banking division as part of its plan to boost its market position in what it sees as one of its “home” markets.
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Property developer Yanlord Land Group has cut the size of its fundraising to $385m from its launch size of $400m, as a combination of low pricing and competition from similar credits in the market made the deal a hard story to sell.
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Chinese company Huawei Technologies has wrapped up syndication of its debut loan in the European market, as commitments pooled in to take the deal to a larger than targeted size of $1.6bn.
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Two Taiwanese lenders and one Hong Kong lender are set to provide the first set of commitments for Chinese real estate company Franshion Properties’ HK$4bn ($516m) loan, which opened to the market in May.
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Mexican state oil company Pemex pounced on very strong market conditions to reopen its peso-denominated global depositary notes on Thursday, attracting MP57bn ($4.4bn) of demand for a MP11bn tap to continue the run of major new issues in Latin America.
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The world has changed. From this week we are living in a post-UK sovereign sukuk era, where all things in Islamic finance seem possible and the market is alive with imaginings of follow-on deals and projects to come.
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Nederlandse Waterschapsbank priced a green bond this week that was almost four times subscribed and came at a low concession to its curve. Another Dutch agency is exploring prospects in the market and expects to sell a debut deal later this year — meaning that all three Dutch agencies could have debuted in green financing within a year of each other.
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This week’s first-ever Western sovereign sukuk represents a landmark moment in the global expansion of Islamic capital markets that offers significant potential to attract further new names to the product, writes Dan Alderson.
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Investors said that Grupo Bimbo had priced its $1.3bn dual-tranche bond “to perfection” after the Mexico-based global bakery firm sold 10 and 30 year debt well inside its existing curve on Tuesday and then saw its bonds remain stable in the secondary market.
