HSBC

France’s Action Logement Services (ALS) is preparing to issue its second ever bond, after making its debut in the capital markets in October 2019.

Sino-Ocean Group Holding was forced to pay up for its green bond this week, as weakened sentiment around Chinese high yield property credits spilled into the investment grade market.

Hongkong Land Co sold its debut $500m green bond on Tuesday, with support from ESG focused investors helping it achieve tight pricing.

A recent lull in dollar bond supply from Indian corporations meant investors rushed to buy REC’s $400m deal on Tuesday, with the electricity company leveraging the demand to price inside of fair value.

BOC Aviation, the aircraft leasing arm of Bank of China, has launched a $750m borrowing into general syndication.

JAB Holdings and Prosus have hired banks to run bond issues, adding to the barrage of corporate deals in the works before Europe's summer break.

Westpac New Zealand attracted plenty of demand on its rare trip to the senior euro market this week, printing its €750m deal flat to fair value.

Royal Bank of Canada has sold the third Canadian covered bond in sterling this year, landing its £1.25bn deal at a spread identical to those of its two peers. Meanwhile, Münchener Hypothekenbank is set to join the sterling spree in the coming days with the first fixed rate covered bond in the currency since 2018.

A succession of debut labelled deals are filling the FIG pipeline as issuers look to make use of the last window ahead of the summer break. ESG bonds from SpareBank 1 SR-Bank and Banco BPM are set to join the already mandated Banca Popolare di Sondrio and Arion Bank in the market later this week.

Only HSBC and RBC Capital Markets are underwriting Fortress’s £9.5bn bid to take UK supermarket chain Morrisons private, while only Morgan Stanley is advising Apollo on its potential rival bid. This leaves plenty of scope for other banks to team up with sponsors to make rival offers.

The IPO of Al Yah Satellite Communications Co, the Abu Dhabi satellite company, is covered throughout the initial price range, on a 30% deal size, according to sources close to the deal.

The Emirate of Sharjah is returning to the international bond market just months after its last visit, but this time marketing a sukuk that will place it among the ranks of major emerging market issuers — both sovereign and corporate — to have raised cash at competitive levels recently with the Sharia-compliant instrument.