HSBC
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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.
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Chilean state copper company Codelco became the latest in a run of EM issuers to debut in euros on Wednesday, taking advantage of strong demand for yield and a beneficial basis swap to price inside where it could have priced a dollar bond, according to a banker on the deal.
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Webhelp, the French call centre operator, has set an original issue discount of 99.5 on its €120m increase to an existing €275m loan.
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Chilean copper company Codelco has set the final spread for the a 10 year euro issue at 93bp over mid-swaps, inside the 95bp-100bp range indicated earlier on Wednesday. The deal’s size is indicated at around €500m, but has not been set, said a syndicate official.
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Peripheral European borrowers are set to benefit from a lack of competing supply and red hot demand this month. Conditions are strong enough this week for Portugal to launch a dollar bond in the tricky 10 year maturity, despite troubles affecting one the country’s leading banks — plus a short benchmark execution window.
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Bahrain Steel launched a $340m seven year syndicated loan into the market on Wednesday morning.
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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.
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Odebrecht’s oil and gas arm reopened recently issued perpetual notes on Tuesday, taking advantage of a strong market to raise another $150m in an opportunistic trade.
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Daimler launched a €500m 10 year bond today that showed quite how divided investor opinion can be about some instruments at the moment.