HSBC
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China Construction Bank Sydney branch opened the books for a debut dim sum bond on Monday. The transaction follows an Rmb2bn ($325m) bond from Bank of China Sydney branch last month and inaugural CNH listings in the eurozone by Chinese issuers last week, moving the renminbi’s internationalisation another step forward. -
Indian Oil Corp has mandated nine banks for its latest fundraising, with the strong support at the top allowing the borrower to increase its loan to $650m from the $500m it had sought in its request for proposals.
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The UK bank has been voted the leading service provider in the offshore renminbi space for the third year running, according to voters in our latest poll.
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HSBC has lost a 17 year veteran of its private debt business to a rival firm in New York, GlobalCapital understands.
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Israeli Delek & Avner’s $2bn five tranche bond has tightened since pricing on Thursday evening — a further 20bp on the longer tranches and 26bp on the shorter.
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Logan Property Holdings is meeting fixed income investors next week in Hong Kong and Singapore.
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China Resources Land has priced a $350m tap of its 2019 bonds to take advantage of cheaper funding opportunities. The tap received good demand despite negative headwinds and a falling stock price caused by the corruption scandal engulfing the borrower’s parent company, China Resources. Bankers said that the news had no bearing whatsoever on the bonds.
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Noble Group, a supplier of agricultural and energy products, metals and minerals, has increased the final size of its loan to $2bn from the launch size of $1.35bn, with an impressive showing in syndication that saw some 40 banks join in.
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Switching regulatory regimes has increased HSBC’s risk-weighted assets by $122.2bn in the first quarter, as it moved to CRD IV reporting for the first time.
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Mexican broadcaster Televisa took the LatAm bond market deep into negative new issue premium territory on Thursday as confidence regarding rates and immunity from political turmoil in eastern Europe provided LatAm borrowers with issuance conditions well beyond the expectations of many bankers.
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After weeks of limited issuance, the dollar market is primed to spark into life next week as investors clamour for a chance to use up accumulated cash. The European Investment Bank and Municipality Finance are tipped to launch deals, while Ontario stole a march on other issuers by mandating banks on Thursday afternoon for a benchmark.
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