HSBC

Chilean copper company Codelco has mandated HSBC, Deutsche Bank and Santander to arrange a 10 year euro denominated bond, its debut in the currency. Investor calls are taking place on Tuesday for the deal.

Corporate credit spreads in Europe are about as tight as they have been in this economic cycle, yet this week’s new issues — including a rare issue from Robert Bosch — suggested investors are exercising discrimination.

Wm Morrison Supermarkets, the UK’s fourth largest food retailer, issued a £300m 15 year bond last Friday (June 27), which reaffirmed the bond market’s continued support of the company despite its widely known operating difficulties.

Titan Cement of Greece has launched a €300m five year bond to refinance debt and for general corporate purposes.

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.

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.

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.

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.

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.

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.

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.