HSBC
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Asian issuers have been rolling out hybrid securities during recent months as the low interest rate environment and strong investor appetite for the region create a conducive setting for corporate capital transactions. -
The UK government has come under fire from the country’s Islamic banks after including none of them on the mandate to lead manage its inaugural sukuk.
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HKT Trust, a subsidiary of Hong Kong conglomerate PCCW, is looking to tap the markets for HK$7.9bn ($1bn) of funding via an 18 for 100 rights issue, the company announced on June 13.
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Oversea-Chinese Banking Corporation (OCBC) printed its second Basel III bond in a little over two months on Thursday. The Singaporean bank is the first southeast Asian lender to tackle a 10 year bullet structure for a dollar new style tier two.
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Krungthai Bank (KTB) is gearing up to issue the first dollar-denominated Basel III bond from Thailand, having arranged a series of investor meetings next week.
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Goodman Hong Kong Logistics made its dollar debut on Thursday with a $400m 10 year bond. Met with a strong reception from investors, the issuer had increased the size of the transaction from its original target to accommodate the demand.
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Vitol’s $1.7bn refinancing loan has swelled to $1.87bn, signing up eleven mandated lead arranger and bookrunners for the trade
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Issuers benefited from ideal market conditions for senior unsecured trades this week, with spreads rocketing inwards following the European Central Bank’s decision to cut rates last week. While the sharpest part of the rally may be over, issuers are expected to enjoy an easy ride for the foreseeable future as syndicate bankers expect spreads to grind even tighter.
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General Electric is the world’s biggest bond issuer, and usually one of the US issuers that comes most frequently to European markets — partly to diversify its funding, and partly because it has European-based businesses to finance.
