UBS

Senior preferred debt has never been cheaper for banks — and it has regulatory benefits as well. While funding teams rush to meet bail-in targets, there's a value in keeping the old asset class alive.

Sun Hung Kai & Co set a personal record this week, selling its largest dollar bond at its lowest coupon as private banks flocked to the unrated Hong Kong financial company.

The European leveraged finance market is set to contend with loan deals approaching €4bn for the start of September. Over half of that is for the German pharmaceutical firm Stada — a deal that could help make funding more expensive for everyone else, writes Victor Jimenez.

Europe’s equity block trade market made an impeccable start to its autumn season on Wednesday night, when two repeat sellers brought trades in familiar, recently floated stocks, and both found strong demand.

TOA Paint will start sounding out investors for its up to $400m IPO in Thailand next week, said a banker on the deal.

Hong Kong financial investment firm Sun Hung Kai & Co is in the market with a guaranteed Reg S dollar bond, to be issued by a wholly-owned subsidiary.

Supply-starved investors have been quick to get involved in the first senior bond transactions in euros in nearly a month, with banks leaping back into the market this week following the summer holidays.

Hong Kong’s Sun Hung Kai & Co is courting investors this week for a new dollar bond offering.

Cromwell European Real Estate Investment Trust was set to begin investor education for a potential S$1.6bn ($1.2bn) Singapore IPO this week, according to a source close to the deal.

HDFC Standard Life Insurance Co is planning an offer-for-sale of secondary shares. The deal could be worth Rp100bn ($1.56bn) and is likely to hit the market in 2017, according to a banker working on it.

Microfinance institution Bandhan Bank has begun preparations for its IPO, according to a source familiar with matter.

Lifestyle International Holdings is making a return to the dollar bond market after two years away, having mandating three banks for a roadshow in Hong Kong this week.