HSBC

The Republic of the Philippines and the Republic of Indonesia are meeting investors in Europe over the next two weeks as the euro market continues to be an attractive source of funding for Asian borrowers.

Krungthai Bank (KTB) issued Thailand’s first ever dollar denominated Basel III instrument on Thursday June 19. Despite the country's political turmoil in the background, KTB’s bond was met with a strong response from investors. As a result, the issuer increased the size of the bond to accommodate the demand.

Swiss commodity trader Mercuria Energy Trading has roared past its refinancing target to sign a $2.65bn syndicated loan.

Hang Seng Bank (China) issued its inaugural bond in international markets on Wednesday, printing a Rmb1bn ($162m) three year. Fueled by rarity value and the issuer’s solid reputation, pricing for the trade landed well inside of a quasi sovereign comparable.

The Republic of the Philippines is set to be the latest Asian sovereign to tap the interest of European markets, and is meeting investors in London on Monday June 30, GlobalCapital Asia understands.

UK Export Finance is planning to boost British exports to China through a long term RMB loan-backing initiative. HSBC is the first partner on the scheme.

UK insurer Phoenix Group started a roadshow and is expected to bring its debut bond next week. With the pipeline quiet, bankers away from the trade welcomed the deal, though warned that the lack of a credit rating would create discussion among investors.

After a failed experiment with new leadership, HSBC is turning to one of its own to drag its UK business into the investment banking big league, writes David Rothnie.

Bayer, the German pharmaceutical and chemical company, today set a new benchmark for tight pricing in corporate hybrid capital – despite having a big funding need to pay for its $14bn acquisition of Merck’s consumer care business.

The United Kingdom has priced its long awaited £200m sukuk — the first by a western sovereign — flat to its 1.75% five year Gilt, with order books closing late Wednesday morning in London.

United Arab Emirates bank Al Hilal’s tier one perpetual sukuk has rallied in secondary trading despite having set a price on Tuesday that was one of the tightest ever for a deal of its kind and too aggressive for some investors.

China Construction Bank (Asia) priced its second dollar deal of the year on Tuesday. Wanting to extend its curve in the currency, the borrower was met with a boisterous investor response that drove pricing for the five year issue inside where dealers saw fair value.