HSBC
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The Islamic Development Bank will hit the road on Sunday as it lines up a dollar benchmark sukuk of as much as $1bn. The deal will be a welcome — if tightly priced — issue for UK Islamic banks, given its status as the only triple-A rated sukuk issuer that qualifies for liquidity buffers under Bank of England rules.
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Emerging market loans bankers are tipping Middle Eastern borrowers to make a strong showing in the loan market this year.
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A five year facility that will be used to finance oil purchases by BP from Rosneft will likely not reach its initial expected amount of up to $5bn.
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A lack of issuers, not a lack of demand, is keeping Latin American debt capital market activity quiet as the region looks set for its second consecutive week without issuance.
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Upgrades and positive outlooks flooded in for Mexican issuers this week after the sovereign’s upgrade to A3 from Moody’s on February 5, but EM bond investors are struggling to take advantage as they say paper from the region is scarce.
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HSBC is continuing to upgrade its coverage effort in a quest to grab market share from cost-cutting rivals, writes David Rothnie.
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