HSBC

London listings could prove popular for issuers looking to sell offshore renminbi following the International Finance Corporation’s debut London listed RMB deal this week. It enjoyed a diverse global distribution, with several investors telling syndicate bankers that the location of the listing was an important factor in deciding to participate.

Nordex signs guarantee facility — Eramet mandates for loan — Ceva Sante sets date

Asian financial institutions will print a spate of deals in March as yield hunting investors scramble for their paper, according to MTN dealers.

Premier Foods priced the high yield bond component of its recapitalisation package at the tight end of guidance on Thursday, while increasing the deal from 475m to 500m pounds.

Big M&A financing has stormed back into Europe this week after two bidders emerged for French mobile phone operator SFR, owned by Vivendi. The bids will need debt packages of around €12bn.

While much of the CEEMEA market is focused on how the Ukraine crisis is affecting secondary spreads, debt bankers are warning that the real threat to bond supply this year will come from slow growth, not short term spread volatility. Anaemic economic growth across key emerging markets jurisdictions has far graver implications for CEEMEA issuance, and could prompt investment banks to rethink their strategies towards the asset class.

Ping An Insurance priced its first Singapore dollar deal on February 27, marking its first foray away from offshore renminbi. It also opted for a 5.5 tenor to build out its curve, as well as appeal to a wider investor base.

A nearly 10 times subscribed book for ASM Pacific Technology’s HK$2.4bn ($309m) 2019 convertible bond this week showed that investors remain keen to get their hands on equity-linked product in what was the second transaction in two days.

Bharat Petroleum Corp launched its $300m three year loan into general syndication on Wednesday, with the original leads managing to rope in one more bank at the top level before opening to the market, while also increasing the size from the original $250m.

ICBC Finance Company, a wholly-owned subsidiary of Industrial and Commercial Bank of China, has launched a $300m facility into syndication, with bankers on the deal already confident of a positive response from the market, thanks to the borrower’s strong ratings.

Bank of Tokyo-Mitsubishi UFJ slotted a fifth tranche into its blow-out $4bn bond on Tuesday, adding a 30 year bond after US investors showed strong appetite for the longer tenor.

Gemdale (Asia) Investment issued a Rmb300m ($49m) tap of its existing three year bond last Friday, just three days after pricing the original deal. The tap was driven by reverse inquiry from a sole investor, although bankers away from the deal questioned the unusual move.