HSBC
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The Federal Reserve made a hawkish lurch at its meeting last week and the consequences are still rippling through rates markets with just two SSA borrowers attempting deals in what could prove volatile markets. -
Senior and covered bond plans were flowing into the deal pipeline on Monday, with issuers keen to buck the softer tone and print before the start of the summer break.
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Market participants think spreads on HSBC’s French covered bonds will "meet in the middle" with those of the lower rated My Money Bank, as the former gets ready to sell its operations to the latter.
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SCE Intelligent Commercial Management has hit the road with its Hong Kong IPO. It is looking to raise up to HK$2.3bn ($296.2m).
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Canadian telecommunications company Telus is set to print the nation’s first sustainability-linked bond, after launching its framework earlier this week. Fellow Canadian Enbridge could join Telus: the oil pipeline operator published its SLB framework on Thursday.
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HSBC is installing a pair of senior bankers to oversee its recently created capital financing and investment banking coverage (CFIBC) unit — Adam Bagshaw, who was hired from Deutsche Bank last year, and Matthew Ginsburg, who joins from Fitch Ratings.
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Sino-Ocean Capital Holding has raised $500m from a two year bond. The deal was the company’s longest in the offshore market, but came with a weaker structure than its past outings.
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Biopharmaceutical company HutchMed (China) kicked off the roadshow for its HK$4.68bn ($602.7m) Hong Kong IPO on Friday, placing more than half of the shares in its third listing with cornerstone investors.
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The Republic of Turkey demonstrated its access to international markets this week with a four times oversubscribed sukuk. But the deal does not represent an access-all-areas pass to the capital markets for the borrower, following a turbulent period that has seen little change to appease investors, writes Mariam Meskin.
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A trio of borrowers looked to slip in with conventional senior deals ahead of Wednesday’s US Federal Reserve meeting, with each paying a small premium to do so.
