• CapitaLand preps S$1.8bn fundraise for acquisition

    CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.

    • 02:30 PM
  • VUB and Stadtsparkasse Muenchen take €250m each in covered bonds

    Vseobecna uverova banka and Stadtsparkasse Muenchen have both been busy keeping the sub-benchmark covered bond market busy with deals this week.

    • 02:30 PM
  • Waskita raises profile with Rph5tr syndication

    Indonesia’s Waskita Karya sealed a Rph5tr ($375m) loan this week, in a rare syndication with international banks. While the borrower raised its profile as it tapped into pockets of rupiah liquidity from foreign lenders, the deal also illustrated the push by north Asian banks to deploy their balance sheet in Indonesia. John Loh writes.

    • 02:15 PM
  • SFC admits defeat in push for input on IPO approvals

    There was relief all round this week after Hong Kong's financial regulator backed down from a contentious plan to increase its involvement in listing approvals, and also gave the market some much-needed clarity on its role in IPOs, writes Jonathan Breen.

    • 02:15 PM
  • Lotte Vietnam allocates $300m loan to five

    Standard Chartered has allocated a $300m offshore financing for Lotte Vietnam Shopping to four additional banks, following general syndication.

    • 02:00 PM
  • Slovenia wins praise for clever bond exchange

    Slovenia tapped two euro bonds for €700m this week to exchange investors out of some of its dollar debt, in a move that bankers say shows the issuer is one of Europe’s most astute borrowers.

    • 01:30 PM
  • China’s high yield issuers face unrelenting battle with NDRC

    It has been a tough year for Chinese issuers as they battle with the National Development and Reform Commission (NDRC) to get go-aheads for offshore bond sales. But the regulator’s snail-like approval process appears to be crawling to a near standstill ahead of the National Congress of the Communist Party, leaving bankers befuddled about what to expect for the rest of the year. Morgan Davis reports.

    • 01:30 PM
  • Sebi approves bonds sales for Reits, InvITs

    India’s real estate and infrastructure investment trusts have been approved to issue bonds, in the latest move to ease the funding crunch for issuers.

    • 01:30 PM
  • Turkish banks stay strong as bank lenders revealed

    Turkish banks are continuing to attract international lenders to their loan financings. Several deals this year have had dozens of arrangers.

    • 01:15 PM
  • Ukraine's $3bn return blows out but sags in secondary

    Ukraine made a barnstorming return to the international bond market this week and extended its curve to 15 years, though the new deal has slipped below reoffer in the secondary market.

    • 01:15 PM
  • Insurance IPOs take centre stage in India’s equity market

    ICICI Lombard General Insurance Co has priced its Rp57bn ($884m) IPO at the top of the range, after strong institutional investor support made books nearly three times subscribed.

    • 12:00 PM
  • Kexim keeps Singapore investors engaged with bond

    Export-Import Bank of Korea decided to woo Singapore dollar bond investors with its latest debt deal, and not only expanded its relationships with local currency accounts but also offered them some welcome diversification.

    • 12:00 PM
  • CIMB and Minsheng blocks entice investors

    Bank of Tokyo-Mitsubishi UFJ cleaned up its position in CIMB Group this week, offloading more than 400m shares in an accelerated bookbuild to raise MR2.55bn ($607m).

    • 12:00 PM
  • Working hard or hardly working?

    The banker lifestyle back in my day, and even now, is one of late nights and early mornings. I’m sceptical of any banker who I meet at the pub on a Friday night who isn’t bleary eyed from lack of sleep during the week. But long hours in the office don’t always mean a productive time at work.

    • 12:00 PM
  • Best bags $450m after slashing IPO as Zai Lab goes big

    Chinese logistics firm Best, which counts Alibaba Group Holdings among its shareholders, raised $450m from its US IPO this week, chopping the deal by half to get it over the finish line.

    • 12:00 PM
  • Sunshine counts on anchors for refinancing

    Investors familiar with Sunshine 100 China Holdings’ credentials shrugged off a recent ratings downgrade to gobble up its new $235m bond, which will allow the company redeem a note coming due imminently.

    • 09:00 AM
  • Postal Savings Bank aims for record AT1

    Postal Savings Bank of China Co launched its highly anticipated additional tier one dollar bond on Thursday, seeking a whopping $7bn from what could be the world’s largest AT1.

    • 06:15 AM
  • Jujuy bond performs as new Argentine province mulls debut

    A strong aftermarket performance by the latest debut international bond from an Argentine province should encourage more local governments to follow suit.

    • 06:00 AM
  • ISDA DC decides on Noble Group, prompts questions on reform

    An International Swaps and Derivatives Association (ISDA) determinations committee 'cleverly' dismissed on Tuesday the controversial question of whether Noble Group defaulted on its debt in June, but the move has prompted questions about reform of the decision-making process.

    • 20 Sep 2017
  • Star IPO a hit, up 5% on day one

    Shares in Steinhoff Africa Retail, the African retail assets of Steinhoff International, rose 5% above their IPO price on Wednesday after the company made its debut on the Johannesburg Stock Exchange.

    • 20 Sep 2017
  • Ghana Cocoa Board signs 25th facility

    Ghana Cocoa Board has signed its annual financing for its cocoa harvest at $1.3bn with 24 lenders, the 25th time the organisation has done the facility.

    • 20 Sep 2017
  • Oman Oil subsidiaries sign fifth facility this year

    Oman Oil Company Exploration and Production (OOCEP) has signed a $1bn loan with 11 banks, which marks the fifth loan to come from the state owned Oman Oil group.

    • 20 Sep 2017
  • PKO extends covered bond curve and finds new investors

    PKO Bank Hipoteczny extended its covered bond curve with a deal that was more widely distributed and attracted more demand than any of its previous deals.

    • 20 Sep 2017
  • Slovenia ducks in for double euro reopening

    Slovenia has set final terms on a €700m combined tap of its 2027 and 2040 notes, with leads expecting the trade to have wrapped up by early afternoon on Wednesday.

    • 20 Sep 2017
  • South Africa shakes off macro worries for dual dollars

    South Africa has printed a $2.5bn dual tranche bond that analysts said was attractive despite the country’s recent economic and political woes.

    • 20 Sep 2017
  • KazTransGas tightens debut in line with owner

    Kazakhstan’s KazTransGas has made its debut in the bond markets, raising $750m of 10 year money close to where its state-run owner KazMunaiGas trades.

    • 20 Sep 2017
  • IsDB sukuk sails through

    The Islamic Development Bank printed $1.25bn sukuk on Tuesday that was firmly targeted at the sovereigns, supranationals and agencies crowd despite its emerging market jurisdiction.

    • 20 Sep 2017
  • JP Morgan, Goldman lead rare Aeroflot block trade

    Another elusive name was traded in the equity blocks market on Tuesday night, when Aeroflot Russian Airlines, Russia’s national carrier, came to market to sell 53.7m treasury shares.

    • 20 Sep 2017
  • Investors give Mercedes-Benz ABS easy ride

    Chinese investors warmly welcomed Mercedes-Benz Auto Finance’s second outing this year in China’s securitization market, helping the originator raise Rmb4.98bn ($760m) from the senior tranche of its deal.

    • 20 Sep 2017
  • HY and EM investors gorge on front-loaded supply

    Corporate issuer debuts and long awaited sovereign market returns have given emerging market investors an array of trades to look at this week, surprising some who thought they were in for little more than watching the US Federal Open Markets Committee meeting on Wednesday.

    • 20 Sep 2017
  • Kingboard Chemical breaks loans lull for HK$5bn

    Kingboard Chemical Holdings is tapping banks for a HK$5bn ($641m) four year borrowing, after a two year hiatus from the loan syndication market.

    • 20 Sep 2017
  • SP PowerAssets pierces curve with new deal

    Singapore power company SP PowerAssets grabbed $600m on Tuesday from a tightly priced investment grade bond that reset its debt curve.

    • 20 Sep 2017
  • SHK Financial bags HK$4.5bn in offshore loan debut

    Hong Kong’s Sun Hung Kai Financial had a rousing welcome to its debut in the offshore loan market, raising HK$4.5bn ($576m) versus the HK$1bn it had initially sought.

    • 20 Sep 2017
  • Best bags smaller $450m after slashing US IPO

    Chinese logistics firm Best raised $450m from its US IPO this week, slicing the deal size by as much as half.

    • 20 Sep 2017
  • Beijing Infrastructure bond makes strong secondary action

    Beijing Infrastructure Investment Co priced its first dollar bond in three years, raising $700m from a six times covered deal on Tuesday. The notes tightened around 10bp in secondary, putting the spotlight on what some considered generous pricing.

    • 20 Sep 2017
  • Kexim goes to Lion City for Sing dollar bond

    The Export-Import Bank of Korea is continuing the deluge of South Korean issuers venturing offshore, marketing a Singapore dollar transaction on Wednesday morning.

    • 20 Sep 2017
  • Sunshine tackles refi needs with new bond

    Property developer Sunshine 100 China Holdings, rated CCC+ by S&P and B- by Fitch, is taking bids for a new dollar bond, in a bid to address its looming debt maturity.

    • 20 Sep 2017
  • Cemex announces new tender

    Mexican cement company Cemex will look to buy back as much of its 9.375% senior secured 2022s as possible after announcing a tender offer for the bonds.

    • 20 Sep 2017
  • Brics summit reboots Russia-China connection

    Trade between Russia and China has slowed over the last few years, hurt by a depreciating renminbi and domestic economic challenges in both countries. But the trend has now largely reversed — and dealmaking between the two countries is booming.

    • 20 Sep 2017
  • Mexichem eyes new bonds after acquisition

    Mexico chemicals company Mexichem is planning a return to international bond markets, according to syndicate bankers, as part of its acquisition of Israel drip irrigation firm Netafim.

    • 20 Sep 2017
  • Cabei veteran joins IIC treasury

    Central American development bank Cabei’s acting head of capital markets is moving to Washington, DC to become lead funding officer at the Inter-American Investment Corporation (IIC) in the treasury division.

    • 20 Sep 2017
  • Heavyweight returns to SSA and EM market

    A big name in SSA and emerging markets syndicate has returned to the primary markets, joining the desk at a French bank.

    • 19 Sep 2017
  • Sibanye Gold caps off Stillwater refinancing with $450m CB

    Sibanye Gold, the South African gold miner, took the final step towards refinancing its acquisition of US platinum miner Stillwater on Tuesday, when it issued a $450m convertible bond.

    • 19 Sep 2017
  • Mercuria prepares annual loan market visit

    Swiss energy and commodities trader Mercuria is looking to raise $850m from a triple-tranche facility that was launched earlier this week.

    • 19 Sep 2017
  • China fumbles as it eyes dollar market return

    It’s been 13 years since China last sold a dollar bond. Since the news this summer that the Middle Kingdom was eyeing a return to the offshore debt market, bankers and investors have kept a close eye on any official news of the transaction. But as the end of the year nears, it appears as though China missed its mark for issuing an earth shattering bond.

    • 19 Sep 2017
  • KazTransGas debut starts wide of owner

    Kazakhstan’s KazTransGas has opened books on a debut 10 year dollar benchmark trade with initial price thoughts that leads reckon is around 30bp back of its similarly rated state-run owner, KazMunayGas.

    • 19 Sep 2017
  • Isbank scores $1.1bn at lower price benchmark

    Türkiye İş Bankası has signed a $1.1bn dual currency syndicated loan at 10bp lower than its first loan this year in May, in line with its peers.

    • 19 Sep 2017
  • ICICI Lombard wraps up $886m IPO oversubscribed

    ICICI Lombard General Insurance Co closed books for its IPO on Tuesday, with the Rp57bn ($886.4m) trade more than 250% subscribed.

    • 19 Sep 2017
  • BPRL reaches out for $400m dual-tranche loan

    Bharat Petroleum Corp’s offshore unit launched a $400m dual-tranche term loan into general syndication on Tuesday evening.

    • 19 Sep 2017
  • What geopolitical tensions? Hyundai, Kookmin seal bonds

    Geopolitical tensions around North Korea did not close the primary debt market this week, as Hyundai Motor Group’s US arm snapped up $1bn from a triple-tranche deal and Kookmin Bank priced a $500m trade on Monday.

    • 19 Sep 2017
  • Crossover credit Puma Energy markets fresh bond

    Emerging market-focused Puma Energy has mandated banks for a $300m minimum seven year non-call three bond, with high yield and emerging market syndicate desks running the process at lead banks.

    • 19 Sep 2017
  • NDRC gives more nods for offshore bonds

    A group of seven Chinese companies have successfully registered with the National Development and Reform Commission (NDRC) to raise foreign currency bonds, according to an update on the regulator’s website on Tuesday.

    • 19 Sep 2017
  • Zai Lab to price $106m US listing high

    Zai Lab, a Chinese biotechnology company, was set to price its IPO of American Depository Shares on Tuesday, expected to raise at least $105.9m.

    • 19 Sep 2017
  • KWG goes tight on $250m comeback

    Chinese property developer KWG Property Holding grabbed a modest $250m on Monday from a transaction sealed at an ultra-tight price.

    • 19 Sep 2017
  • Petrobras comes tight but dips in grey

    Brazilian state oil giant Petrobras returned to bond markets on Monday with a liability management driven trade that bankers say should hit $6bn at least once a concurrent exchange offer is completed. But the deal traded down in the grey market — to the surprise of many.

    • 19 Sep 2017
  • Goldman appoints Hitchner as Apac chairman

    Goldman Sachs has promoted Ken Hitchner to chairman and chief executive officer of Asia Pacific ex-Japan, amid a rejig of its senior ranks in the region.

    • 19 Sep 2017
  • S-Reits, trusts to keep issuance spree on a high

    Singapore real estate and business trusts have raised a healthy $2.9bn in equity this year, with market participants seeing no let-up in volumes as investors continue to chase for yield.

    • 19 Sep 2017
  • SP PowerAssets lights up rare dollar bond

    Singapore power company SP PowerAssets began marketing a rare dollar transaction on Tuesday morning, nearly two years after it last hit the offshore debt market.

    • 19 Sep 2017
  • The Buy Side: Sweden’s Andra still bullish on A-shares

    In this new column, GlobalRMB will be speaking to investors from around the world about their views on RMB assets. In the first instalment, Swedish pension fund Andra speaks about its long-standing commitment to China’s equity market.

    • 19 Sep 2017
  • InterGlobe nets Rp38bn from popular share sale

    InterGlobe Aviation has raised Rp37.96bn ($591.5m) from a one-day placement, drawing in a troop of international and domestic hedge funds, as well as long-only investors.

    • 19 Sep 2017
  • Beijing Infrastructure returns to dollars, APP China on the road

    Beijing Infrastructure Investment Co is in the market with its first dollar bond in nearly three years, while APP China Group is meeting debt investors in Hong Kong.

    • 19 Sep 2017
  • SGX creates indices from products

    Singapore Exchange (SGX) has used the iron ore futures listed on its derivatives market to create a series of inverse and leveraged indices for tradable products.

    • 18 Sep 2017
  • Telia brings second $500m Turkcell selldown this year

    On Monday evening, Telia, the Nordic telecoms group, launched another large block trade of shares in Turkcell, the leading mobile phone operator in Turkey.

    • 18 Sep 2017
  • Puma's $425m pushes loan tenor to five years

    Puma Energy, the midstream and downstream oil company, has signed a five year loan that was oversubscribed by its relationship banks.

    • 18 Sep 2017
  • Yapi Kredi’s second round of refis underway

    Turkey’s Yapi ve Kredi Bankasi has put its second refinancing loan of the year in motion with banks expected to respond by Wednesday.

    • 18 Sep 2017
  • Wanted: executable trades for solid EM bond market

    The EM bond market is primed for trades this week, though syndicate bankers said that there were few names ready to pull the trigger other than Ukraine and the Islamic Development Bank (IDB), which have already hit screens.

    • 18 Sep 2017
  • Ukraine splits opinion with initial pricing

    Ukraine opened books on its first Eurobond since 2013 on Monday, with the pricing labelled both “attractive” and “silly” by different corners of the market at initial price thought levels.

    • 18 Sep 2017
  • DC Holdings seals 1,600% subscribed rights issue

    Digital China Holdings has bagged HK$1.45bn ($185.5m) from a rights issue that was hugely popular, with books more than 1,600% subscribed.

    • 18 Sep 2017
  • Laotion borrowers eye offshore loan market

    A trio of borrowers from Laos are looking to hit the international loan market soon, with Cathay United Bank guiding lenders towards a possible launch date.

    • 18 Sep 2017
  • Huarong International seeks HK$3bn one year

    Huarong International Financial Holdings is in the market with a HK$3bn ($383m) two-tranche offshore financing led by a pair of Taiwanese lenders.

    • 18 Sep 2017
  • Shougang pursues dollar bond sale

    Chinese steel company Shougang Group Co has mandated banks to lead a roadshow this week ahead of a proposed dollar bond.

    • 18 Sep 2017
  • Goshawk heads to Taiwan for non-deal roadshow

    Commerzbank is organising a non-deal roadshow in Taipei for Goshawk Aviation, the commercial aircraft lessor owned by a pair of Hong Kong conglomerates.

    • 18 Sep 2017
  • SFC drops listing committee proposal after resistance

    Hong Kong’s Securities and Futures Commission (SFC) has backed down from the idea of boosting its involvement in listing approval decisions following a wave of opposition, but will maintain its new role of intervening in serious listing matters.

    • 18 Sep 2017
  • Timing of Chinese sovereign dollar bond baffles analysts

    After a 13 year absence, China's Ministry of Finance (MoF) is getting closer to tapping the dollar bond market again. But although some analysts say the issuance will help cut costs for Chinese corporates borrowing abroad, others were left scratching their heads over the timing of the deal given China's growing pile of FX reserves.

    • 18 Sep 2017
  • Gansu bank, A-Living seek Hong Kong listings

    Bank of Gansu Co and A-Living Services Co are looking to float on the Hong Kong Stock Exchange, having filed draft listing documents with the bourse.

    • 18 Sep 2017
  • Online insurer ZhongAn launches HK$12bn IPO

    ZhongAn Online P&C Insurance Co has opened books for its much-anticipated Hong Kong IPO, which could raise up to HK$11.9bn ($1.5bn).

    • 18 Sep 2017
  • Reverse enquiry shores up Tianjin Lingang’s debut

    China’s Tianjin Lingang Investment Holding Co grabbed $260m from an open-and-shut debut deal on Friday, which was driven by reverse enquiry.

    • 18 Sep 2017
  • South Korean issuers continue to roll out deals

    South Korean dollar bonds are hitting the market unabated despite a new missile launch from North Korea last Friday, with Hyundai Capital America and Kookmin Bank marketing new paper.

    • 18 Sep 2017
  • SG moves London banker to head Apac acquisition finance

    Société Générale Corporate & Investment Banking has brought in a senior executive from London to head its Asia Pacific acquisition financing unit.

    • 18 Sep 2017
  • KWG builds year’s second dollar outing

    Chinese developer KWG Property Holding is back in the dollar debt market just six months after raking in $400m from a five and a half year bond.

    • 18 Sep 2017
  • Pakistan issues RFP for international sukuk

    The Islamic Republic of Pakistan is hiring banks to lead its international sukuk issuance, issuing a request for proposals over the weekend.

    • 18 Sep 2017
  • Sun Hung Kai gets Panda programme greenlight

    Hong Kong-based Sun Hung Kai Properties has received Chinese regulators’ blessing to issue Rmb10bn ($152.9m) worth of Panda bonds within the next two years, according to the National Association of Financial Market Institutional Investors (Nafmii).

    • 18 Sep 2017
  • The week in renminbi: Venezuela uses RMB for oil pricing, PBoC says bankers bullish about economy, SZ-HK Connect volumes hit new high

    Venezuela replaces the dollar with the renminbi as the quoting currency for its oil exports, the People’s Bank of China says bankers are confident about the Chinese economy, and the Shenzhen-Hong Kong Stock Connect sets a new record in turnover volume.

    • 18 Sep 2017
  • GeoPark sells seven year notes

    Latin American oil and gas company GeoPark sold $425m of seven year non-call four notes last week, with the first leg of a concurrent tender offer due to expire on Tuesday.

    • 18 Sep 2017
  • Vale sticks with debt diet

    More than 65% of the holders of Brazilian mining giant Vale’s 4.625% 2020s agreed to sell their bonds before last week’s early-bird tender deadline.

    • 17 Sep 2017
  • KNOC finds opportune timing for Canada arm's bond

    Korea National Oil Corp’s (KNOC) Canadian arm grabbed a $285m bond on Thursday, securing its deal before North Korea fired its second ballistic missile over Japan on Friday morning.

    • 15 Sep 2017
  • Goldman units bag $109m from Max Financial clean-up

    A pair of Goldman Sachs-owned funds bagged Rp7bn ($109m) after selling the last of their shares in India’s Max Financial Services through an overnight block trade on Thursday.

    • 15 Sep 2017
  • Tsit Wing, Agile unit close in on HK IPOs

    Tsit Wing International, a coffee and black tea supplier, is vying for approval to list in Hong Kong, having filed a draft prospectus with the city’s stock exchange this week.

    • 15 Sep 2017
  • CIMC Enric, CPI Ronghe open loans into general

    Chinese storage and transportation equipment provider CIMC Enric Holdings is seeking a $150m three year loan from the offshore market.

    • 15 Sep 2017
  • Investors on shopping spree grab Red Star’s debut

    Red Star Macalline Group Corp priced a tight $300m debut deal on the back of a book nearly seven times subscribed, after investors chased its notes because of the diversity benefits.

    • 15 Sep 2017
  • HSBC China targets foreign investors with non-Panda deal

    The onshore subsidiary of HSBC priced a Rmb2bn ($305m) bond on September 12 targeting Bond Connect investors, a deal that could draw more attention to onshore issuance by foreign companies using local entities instead of choosing the Panda route.

    • 15 Sep 2017
  • Keppel-KBS gear up for Singapore Reit IPO

    Singapore’s Keppel Corp, together with US-based KBS Realty Advisors, is preparing to list a real estate investment trust in the southeast Asian country, backed by commercial properties in the US.

    • 15 Sep 2017
  • ICICI Lombard launches India’s first non-life insurer IPO

    ICICI Lombard General Insurance Co kicked off a three day bookbuild for its potential Rp57bn ($888.8m) listing on Friday after placing Rp16.2bn of stock with a hefty group of anchor investors.

    • 15 Sep 2017
  • IndiGo parent seeks $616m from one-day bookbuild

    InterGlobe Aviation plans to raise Rp39.5bn ($616m) from a one-day bookbuild on Friday with institutional investors to help it meet India’s free float requirements.

    • 15 Sep 2017
  • RMB round-up: Safe official wants CNH and CNY to merge, AXA IM launches short dated China bond strategy, ex-HKMA head urges RMB trading for HK stocks

    The State Administration of Foreign Exchange (Safe)’s deputy head says the onshore and offshore renminbi markets should merge, AXA Investment Managers (AXA IM) launches a new strategy to buy short dated onshore RMB bonds, and the ex-boss of the Hong Kong Monetary Authority (HKMA) suggests Hong Kong-listed stocks should trade in renminbi.

    • 15 Sep 2017
  • COP out: Millicom raises dollars but no pesos

    After Uruguay’s success last week, pan-EM mobile and cable company Millicom raised hopes on Monday that more local currency supply would be on the way.

    • 14 Sep 2017
  • Uruguay reaffirms peso commitment

    Uruguay’s head of sovereign debt management said that the sovereign was committed to developing its global nominal peso-denominated bond curve in an interview with GlobalCapital about the country’s latest local currency issue last week.

    • 14 Sep 2017
  • Sunny Jujuy reignites Argie debt party

    Argentina’s most north-western province raised $210m of green bonds due in 2022 on Wednesday, as bankers say activity is ready to recommence in earnest.

    • 14 Sep 2017
  • Lat Am eyes record year as Mexico City Airport flies green

    A special purpose vehicle backing the construction of Mexico City’s new airport was the highlight in a hectic week for Lat Am new issues, with 10 borrowers pricing nearly $8bn of deals in the space of four days.

    • 14 Sep 2017
  • Get real on climate risk, investors tell banks

    A hundred investors managing $1.8tr of assets have signed a letter calling on banks to say more about how they are managing the risk of climate change, and to publish a strategy saying how they support the goals of the Paris Agreement.

    • 14 Sep 2017
  • Qatari banks set to shy away from syndicated loans

    The dispute between Qatar and six other Gulf states could curb its chances of plugging the country's banks’ funding needs through the syndicated loan market, leading bankers to believe more private arrangements may be the answer to the isolated gulf state’s woes. Bianca Boorer reports.

    • 14 Sep 2017
  • Extraordinary rates and hope of support drive $15bn Bahrain book

    Bahrain raised $3bn this week, reopening the market for Gulf bonds after a long summer of political tension in the region. Despite deteriorating financials and a rising debt burden, exceptional market conditions, and expectations of support from its larger neighbour, boosted the book to $15bn, writes Virginia Furness.

    • 14 Sep 2017
  • Kingdom of Bahrain USD700m 7.5% Sep 47, USD1.25m 6.75% Sep 29, USD850m 5.25% Mar 25

    • 14 Sep 2017
  • CCI USD500m 4.125% Sept 24

    • 14 Sep 2017
  • Export Credit Bank of Turkey USD500m 4.25% Sept 22

    • 14 Sep 2017
  • Russia roundup: CBM added to SIB list, NLMK issues, sovereign details buy-back

    The Central Bank of Russia (CBR) has added Credit Bank of Moscow (CBM) to its list of systemically important banks (SIBs) this week, prompting a 2.5 cash point rally in the issuer’s subordinated bonds.

    • 14 Sep 2017
  • Russian Railways makes stop at Swiss market

    The Swiss bond market welcomed Russian Railways back to the market after a five year absence this week.

    • 14 Sep 2017
  • Qatar funding freeze thaws in Asia as QNB prints $630m Formosa

    Qatar National Bank has secured $630m with a structured Formosa bond to prove it is still able to access funding despite the sensitives surrounding the Qatar crisis.

    • 14 Sep 2017
  • Steinhoff Africa Retail finishes biggest ever South African IPO

    The IPO of Steinhoff Africa Retail, known as Star, the African discount store assets of Steinhoff International, has been priced at R20.50 a share, the midpoint of the initial R18 to R23 range.

    • 14 Sep 2017
  • Kazakhstan’s Kashagan doubles prepayment loan to $2bn

    KazMunayGas Kashagan (KMGK), one of the owners of the Kashagan oil field in Kazakhstan, has increased a five year secured oil prepayment loan facility to $2bn, to fund repayments to buyers under its production sharing agreement.

    • 14 Sep 2017
  • KDB defies North Korea volatility for $1bn bond

    Korea Development Bank assured investors that all is well in the South Korean market by selling a closely watched triple tranche deal the day after the United Nations announced sanctions against its northern neighbour. The policy bank managed to grab $1bn, but the transaction wasn’t without its challenges. Morgan Davis reports.

    • 14 Sep 2017
  • NLMK makes smart use of small funding costs

    Russia’s Novolipetsk Steel (NLMK) was making prudent use of lower funding costs on Thursday to buy back its more expensive outstanding dollar debt.

    • 14 Sep 2017
  • Credit Bank of Moscow added to list of Russian SIBs

    The Bank of Russia has added Credit Bank of Moscow to its list of systemically important banks (SIB), prompting a 2.5 cash point rally in the issuer’s subordinated bonds.

    • 14 Sep 2017
  • ZhongAn sets high bar for first HK insurtech IPO

    The $1.5bn Hong Kong IPO of Chinese insurtech firm ZhongAn Online Property and Casualty Insurance Co is set to be a splashy affair, with the punchy valuations on offer stirring debate among ECM bankers. But the leads are already predicting a successful outcome. John Loh and Jonathan Breen report.

    • 14 Sep 2017
  • Debut Chinese borrowers drive hard bargains for loans

    A slew of Chinese firms are making their debuts in the offshore loan market, with the pricing on offer reflecting a borrower base that is increasingly confident and savvy when negotiating terms with lenders, writes Shruti Chaturvedi.

    • 14 Sep 2017
  • Mapletree Logistics prices block high to net S$354m

    Mapletree Logistics Trust sealed an accelerated bookbuild at the top of guidance on Wednesday, raising S$353.5m ($261.8m) from the first step of a two-pronged equity raise to fund the acquisition of a Hong Kong warehouse.

    • 14 Sep 2017
  • QNB turns to Taiwan for cash

    Qatar National Bank has secured $630m with a structured Formosa bond to prove it is still able to access funding despite the sensitives surrounding the Qatar crisis.

    • 14 Sep 2017
  • BOCHK sells interbank market’s largest Panda bond

    Bank of China Hong Kong has sold its second Panda bond, raising a staggering Rmb9bn ($1.37bn) from a one year note. The transaction was the largest Panda sold in the interbank bond market, and caught the attention of foreign investors, which made 50% of all bids.

    • 14 Sep 2017
  • Slovenia runs with sixth dollar buy-back

    Slovenia is once again borrowing in euros to fund a buy-back of its dollar debt as it looks to cut its liabilities in the currency. This is the borrower’s sixth such transaction over the course of two years.

    • 14 Sep 2017
  • China’s RYB Education, Secoo kick off US listings

    RYB Education’s IPO on the New York Stock Exchange is off to a strong start, with the $140m deal covered on the first day of bookbuilding.

    • 14 Sep 2017
  • KNOC's Canadian arm seeks $285m

    Harvest Operations Corp, a Canadian oil and gas company, began marketing a dollar bullet on Thursday that is backed by its parent, Korea National Oil Corp (KNOC).

    • 14 Sep 2017
  • Jackpot! Wynn Macau wins $1.35bn from bonds

    Wynn Macau raised $1.35bn from the bond market on Wednesday, finding support from both Asian and US investors thanks to a turnaround story in the Macau gaming industry and the issuer’s improved financials.

    • 14 Sep 2017
  • CSI lands easy $200m from senior perp

    CSI Properties printed a $200m bond on Wednesday for refinancing purposes. The leads were not short on comparables given that several of the issuer’s developer peers have sealed similar transactions so far in 2017.

    • 14 Sep 2017
  • Shinhan throws off North Korea worries for second dollar bond of 2017

    South Korea’s Shinhan Bank braved the dollar market on Wednesday for the second time this year, hoping to secure a new Basel III tier two dollar bond while North Korea-related volatility looked quiet.

    • 14 Sep 2017
  • Red Star Macalline releases guidance for dollar debut

    Chinese retailer Red Star Macalline Group Corp launched its dollar debut on Thursday, about five months after mandating banks for the deal.

    • 14 Sep 2017
  • JKL pockets $150m from Pan Ocean block

    South Korean private equity firm JKL Partners has raised W170.3bn ($150.3m) after offloading a chunk of shares in Pan Ocean Co, with an early non-deal roadshow putting the deal on a solid footing.

    • 14 Sep 2017
  • Fenix generates strong oversubscription on bond debut

    Peruvian electricity generator Fenix Power Perú, which is operated by well-known Chilean firm and bond issuer Colbún, sold its first ever international bond in a busy day for Lat Am markets on Wednesday.

    • 14 Sep 2017
  • Mexico City Airport, Millicom lead Lat Am’s Wednesday charge

    Five Latin American borrowers sold dollar-denominated bonds on Wednesday, bringing the total number of issuers from the region this week to nine, with mobile and cable company Millicom first out the blocks.

    • 14 Sep 2017
  • Market shines on Jujuy’s solar bond

    Argentina’s most north-western province became the 15th regional or municipal government in the country to issue international bonds on Wednesday as Jujuy raised $210m of green bonds due in 2022.

    • 14 Sep 2017
  • Malaysia must marry green bonds and sukuk

    Malaysian companies have finally started taking steps towards sustainability, about three years after the country put together its SRI sukuk framework. The potential for growth is huge, and with the right encouragement and a conscious partnership between Islamic financing and sustainable goals, Malaysia can make itself a leading green market.

    • 14 Sep 2017
  • GLP’s $4.1bn LBO facility opens for retail participation

    A chunky $4.108bn leveraged buyout financing, for the acquisition of Global Logistic Properties by a consortium of Chinese investors, has entered into general syndication.

    • 14 Sep 2017
  • Postal Savings Bank hits the road for new AT1

    Postal Savings Bank of China Co has mandated 21 banks to work on a dollar AT1 transaction worth up to Rmb50bn ($7.4bn), expected to hit the market as early as next week.

    • 14 Sep 2017
  • EU nears approval of 'Juncker plan' extension

    A representative of European Member States and the European Parliament agreed on Wednesday to increase the lifetime of the European Investment Bank's European Fund for Strategic Investments (EFSI) until 2020, with the aim to triggering a total of €500bn in investments in the EU economy.

    • 13 Sep 2017
  • Saudi Arabia puts first of 60 renewable plants out to tender, loans expected

    Saudi Arabia is following its fellow Gulf states by developing renewable energy. Bids are expected this month to build a 300MW solar photovoltaic power plant in Sakaka.

    • 13 Sep 2017
  • FirstRand follows peers, taps Asia for $250m

    FirstRand Bank has begun syndication of a $250m loan, aimed at Asian lenders.

    • 13 Sep 2017
  • Bahrain draws barmy $15bn book

    Kingdom of Bahrain drew orders of $15bn for its $3bn triple-tranche trade on Wednesday, having crushed the chunky new issue concession at price talk by as much as 50bp.

    • 13 Sep 2017
  • Buying frenzy as Coca-Cola Icecek lands super tight trade

    If there was any doubt that EM investors have plenty of cash to put to work, Turkey’s Coca-Cola Icecek (CCI) laid it to rest this week with a $500m deal that tightened 40bp from price talk and then rallied 20bp in the secondary market.

    • 13 Sep 2017
  • Brazilian Klabin offers concession on green debut

    Klabin became the third Brazil pulp and paper producer to sell green bonds on Tuesday, squeezing pricing more than 40bp from initial price thoughts.

    • 13 Sep 2017
  • San Miguel jumps on low yield

    Peruvian plastic packaging company San Miguel Industrias sold seven year bonds below 5% on Tuesday, with the yield achieved by the Peruvian company particularly impressing bankers.

    • 13 Sep 2017
  • Vendor eyes $154m from Pan Ocean block

    South Korean asset manager Poseidon 2014 has launched an up to W174.1bn ($154.3m) block sale of shares in shipping services provider Pan Ocean Co.

    • 13 Sep 2017
  • Blended products back in vogue in EM

    Money managers say that blended products are the most efficient way to invest in emerging markets as cross-asset class total return funds trump those with a sole focus.

    • 13 Sep 2017
  • Bank of Qingdao hits targets on $1.2bn AT1

    Ample demand allowed Bank of Qingdao to price its inaugural additional tier one dollar bond tightly on Tuesday. The deal stood out because of the bigger participation from non-Chinese investors — something that bodes well for the hefty AT1 pipeline.

    • 13 Sep 2017
  • KDB makes statement with $1bn deal amid North Korea turmoil

    Korea Development Bank made a strong statement to the market with a $1bn triple-tranche deal on Tuesday, despite some investors being wary about North Korea and others balking at the price.

    • 13 Sep 2017
  • ABC International makes rare visit for $500m bond

    ABC International Holdings tackled its looming maturities head on with a $500m three year bond on Tuesday, finding favour among investors thanks to fair pricing and its rarity value.

    • 13 Sep 2017
  • Sino-Ocean entices investors with hybrid deal

    Sino-Ocean Group Holdings leveraged on its stronger sales performance and credit metrics to storm into the debt market on Tuesday, showing that it has put a short but tumultuous period behind it.

    • 13 Sep 2017
  • Haitong UniTrust plans September IPO launch

    Haitong UniTrust, the leasing arm of Haitong Securities, is eyeing an end-September window to launch its $500m IPO in Hong Kong.

    • 13 Sep 2017
  • ZhongAn pitches brazen valuations on $1.5bn IPO

    Investors have been receptive to ZhongAn Online Property and Casualty Insurance Co’s $1.5bn IPO in Hong Kong despite the punchy valuations on tow, said bankers.

    • 13 Sep 2017
  • Universal Medical debuts offshore with $300m loan

    Hong Kong-listed Universal Medical Financial & Technical Advisory Services has set its sights on the offshore syndicated loan market for a $300m dual-currency maiden borrowing.

    • 13 Sep 2017
  • Hyundai’s China JV shrugs off politics to sell ABS

    Beijing Hyundai Motor Group has completed its second securitization in China this year, selling a Rmb3.5bn ($535.3m) two tranche deal on September 12. While the transaction’s timing coincided with rising political tensions between China and South Korea, investors remained undeterred.

    • 13 Sep 2017
  • IMF Q&A: Time for China to break the RMB free

    In the past year, Chinese authorities have taken measures to boost capital inflows, while keeping the currency and potential outflows under strict control. In this exclusive Q&A with GlobalRMB, Calixte Ahokpossi, senior economist at the International Monetary Fund, says China needs more reforms, and that introducing a flexible currency framework should be a priority.

    • 13 Sep 2017
  • SBI Life sets the stage for India’s largest IPO in seven years

    SBI Life Insurance Co is preparing to treat India to the first billion-dollar IPO in seven years as it readies an eagerly awaited Rp84bn ($1.3bn) listing.

    • 13 Sep 2017
  • CSI Properties, CNLP hit up dollar investors

    CSI Properties and China Logistics Property (CNLP) are in the thick of the dollar debt market this week, with the former gauging interest for a perpetual deal, and the latter boosting its coffers with a tap.

    • 13 Sep 2017
  • Shinhan returns for dollar tier two transaction

    South Korea’s Shinhan Bank is set for a new Basel III tier two dollar bond, as it markets a transaction that mirrors its debut 18 months ago.

    • 13 Sep 2017
  • Panama's Banistmo clinches debut deal

    Banistmo, the Panamanian lender owned by Bancolombia, sold its first ever international bond on Tuesday, offering a pick-up to the curve of its peer Banco General.

    • 13 Sep 2017
  • Millicom sets price talk for dollar tranche

    Emerging markets cable and mobile group Millicom International Cellular will look to price a $500m 10 year non-call five bond on Wednesday, according to bankers close to the deal.

    • 13 Sep 2017
  • Wynn Macau rolls out new dual-trancher

    Wynn Macau, a unit of casino giant Wynn Resorts, announced a two-tranche bond on Wednesday, part of a $1.35bn outing to redeem its outstanding 2021s.

    • 13 Sep 2017
  • L&T to pave way for new InvIT IPO bookbuild style

    India’s Larsen & Toubro is set to trial a new bookbuilding format for its planned infrastructure investment trust (InvIT), a move designed for success as the asset class struggles to gain traction.

    • 13 Sep 2017
  • PFM to be popular with foreign asset managers, says CLSA

    Foreign asset managers will increasingly use RMB raised in China to invest overseas, as the private fund management (PFM) programme takes off, said Alexious Lee, head of capital access, China, at CLSA.

    • 13 Sep 2017
  • China's Red Star Macalline markets international debut

    Red Star Macalline Group Corp, a furniture retailer plus shopping mall owner, is ready to start roadshows for its international bond debut, after initially mandating banks back in April.

    • 13 Sep 2017
  • Saudi's reform revisions a worrying reversal

    Saudi Arabia is reportedly planning to dilute its much touted National Transformation Program, a worrying sign for investors that confirms the doubts of observers who said the country’s Vision 2030 plan was too ambitious.

    • 12 Sep 2017
  • Nordic SSAs prepare green impact guide

    A group of Nordic public sector issuers are preparing a “practical guide on impact reporting” in the green bond market. While the initial aim is to assist Nordic borrowers in the public and private spheres, the authors hope that it could prove useful for issuers from other countries too.

    • 12 Sep 2017
  • Turk Exim sets strong tone, crushes NIP

    Turk Eximbank issued the first bond from a Turkish bank since June on Monday, in a deal with a slim new issue premium that set a strong tone for future issuance as books hit $2.1bn.

    • 12 Sep 2017
  • Chinese banks woo foreign participants for OBOR projects

    Syndicated loan activity in Asia ex-Japan may have slumped this year, but the slowdown is not all bad. The numbers show a return to normalcy in the region following an unusually stellar year of business in 2016, according to speakers at a loan market conference last week.

    • 12 Sep 2017
  • Bandhan Bank hires for $1bn IPO, Reliance Nippon pre-markets

    Indian non-banking financial company (NBFC) Bandhan Bank has lined up five bookrunners for its IPO, expected to raise at least $1bn, according to a banker on the transaction.

    • 12 Sep 2017
  • Embattled Huishan Dairy given three days to repay $220m

    HSBC has demanded repayments of principal and interest totalling $220m for loans raised by troubled China Huishan Dairy Holdings, about five months after it declared an event of default on a $200m syndicated loan.

    • 12 Sep 2017
  • Asia, US safeguard BOC Aviation’s $1bn dual trancher

    BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers.

    • 12 Sep 2017
  • Parched investors rush for Coca-Cola's Turkish bottling firm

    Coca-Cola Icecek is refreshing the buyside with the first Turkish corporate trade for 18 months. However, while the deal was “flying out of the door” according to one syndicate banker, the 25bp-30bp pick up over the Turkish sovereign is not quite enough to quench the thirst of some.

    • 12 Sep 2017
  • Dongxing Securities HK seeks maiden $300m loan

    Dongxing Securities (HK) Financial Holdings is making its debut in the international loan market with a $300m two tranche deal.

    • 12 Sep 2017
  • Garuda arm’s $246m dual-track IPO takes off

    Garuda Maintenance Facility AeroAsia has opened books on a two-pronged Rph3.2tr ($245.5m) IPO which will also see it court strategic investors.

    • 12 Sep 2017
  • Mercedes-Benz races towards new China ABS deal

    Mercedes-Benz Auto Finance is gearing up for its second deal in China’s securitization market this year as it beefs up its operations in the Mainland.

    • 12 Sep 2017
  • China’s Luxshare Precision reboots with $300m loan

    Chinese consumer electronics parts maker Luxshare Precision Industry has returned to the debt market for a $300m three year senior unsecured term loan, after an absence of nearly two years.

    • 12 Sep 2017
  • Secoo kicks off bookbuilding for $115m US IPO

    Chinese online luxury product retailer Secoo Holding has launched an IPO of American Depository Shares that could raise up to $114.8m.

    • 12 Sep 2017
  • ABC International out for funds, BJ Infrastructure mandates

    ABC International Holdings is back in the offshore bond market, opening books for a senior unsecured fixed rate dollar trade on Tuesday. Separately, Beijing Infrastructure Investment Co is set to end its two-year absence from the international market.

    • 12 Sep 2017
  • Sisram Medical prices $125m IPO low

    Sisram Medical, a subsidiary of Chinese conglomerate Fosun International, has raised HK$978.6m ($125m) from its spin off in Hong Kong, pricing the IPO at the bottom of guidance.

    • 12 Sep 2017
  • Sun Hung Kai makes triumphant dollar return

    Sun Hung Kai & Co’s good run in the dollar debt market continued this week as the Hong Kong financial investment firm sealed a $150m tap, once again going beyond the targeted size.

    • 12 Sep 2017
  • KDB offers fixed and floating options in triple tranche deal

    The Korea Development Bank is courting investors for a triple-tranche dollar offering, including a new floating rate note and a fixed rate note, as well as a tap of its existing floating 2022s.

    • 12 Sep 2017
  • IndiGo, Nazara set sights on equity fundraises

    InterGlobe Aviation, the owner of Indian budget carrier IndiGo, is getting ready to tap institutional investors for a capital raise of around Rp40.7bn ($636.5m).

    • 12 Sep 2017
  • Bank of Qingdao raises the curtain on Chinese AT1 supply

    Bank of Qingdao is whetting investors’ appetite with a dollar-denominated Basel III additional tier one bond, only the second from a Chinese city commercial bank, and coming ahead of an expected flood of supply from the country.

    • 12 Sep 2017
  • Roadblocks remain for BRI private financing

    The Belt and Road Initiative (BRI), without a doubt, will find many private sector takers. But despite their desire to get involved, investors are holding their horses as they assess risks, especially political ones, in Belt and Road countries.

    • 12 Sep 2017
  • Sino-Ocean serves up subordinated dollar perp

    Sino-Ocean Group Holdings began marketing a new subordinated deal on Tuesday morning, returning to the dollar bond market after a gap of more than two years.

    • 12 Sep 2017
  • TissueGene aims for $179m in Kosdaq float

    US-based TissueGene has announced an indicative range for its Kosdaq listing of W202.5bn ($179.1m), with bookbuilding expected to start next month.

    • 12 Sep 2017
  • Peru’s San Miguel sets IPTs

    Peruvian plastic packaging company San Miguel Industrias could return to bond markets on Tuesday after announcing initial price thoughts for a new dollar denominated deal.

    • 12 Sep 2017
  • Investors drill deep for Enap’s first long bond

    A hefty back-up in US Treasuries did not stop Chilean oil company Enap clinching its longest ever bond issue on Monday, offering what bankers off the deal saw as a single digit new issue premium.

    • 12 Sep 2017
  • Oil, RMB and the petrodollar’s demise

    The goal of making the RMB a global commodities currency is not a job for those looking for quick successes. But recent moves from Russia and the Middle East have laid further bricks on the road to glory for China.

    • 12 Sep 2017
  • Moy Park acquisition to spark £560m issue

    US chicken processor Pilgrim’s Pride Corp plans to fund its £1bn buyout of UK peer Moy Park with cash in hand, an extension of its term loans, and a new debt issue to repay a JBS subordinated note.

    • 11 Sep 2017
  • Intesa drops Rosneft loan as Chinese buyer takes 14% stake

    Banca Intesa has found relief from its efforts to offload a €5.2bn loan it made to Glencore and Qatar Investment Authority for the acquisition of a 19.5% stake in Rosneft, eight months after it fully underwrote the debt.

    • 11 Sep 2017
  • Brazil moves closer to covered bond issuance

    The Brazilian Monetary Authority (CMN) has published a covered bond regulatory framework which paves the way for the country’s five largest lenders to press ahead with deals. Though the move is credit positive for banks, they are unlikely to issue in euros in the near term.

    • 11 Sep 2017
  • Turk Exim price talk shows 'irrelevance' of starting levels, say investors

    Turk Eximbank has opened books on a new five year senior note with price talk at a wider level than its seven year bond, leading one buy-side analyst to remark that initial price thoughts in EM are “irrelevant.”

    • 11 Sep 2017
  • KazTransGas lines up debut after ratings boost

    KazTransGas, the largest gas supply company in Kazakhstan, has picked banks for a debut 10 year dollar benchmark after Standard & Poor’s revised the country’s outlook to stable on Friday.

    • 11 Sep 2017
  • Millicom returns with 10 year to fund buy-back

    Millicom International Cellular has added to a growing corporate bond pipeline this week with a 10 year non-call five note, which will be combined with a buy-back.

    • 11 Sep 2017
  • Dubai Metro raises $1.1bn for World Expo route

    Dubai’s Department of Finance has taken out a $1.1bn syndicated loan to finance the expansion of the city's metro line, as part of its plan to host the World Expo 2020.

    • 11 Sep 2017
  • Russian Railways readies a return to Swiss market

    Russian Railways will meet investors on Wednesday to discuss its first Swiss franc bond in five years.

    • 11 Sep 2017
  • Vedanta's $575m borrowing enters general syndication

    A $575m loan for Twin Star Mauritius, an entity under mining giant Vedanta Resources, entered general syndication on Monday with five banks at the helm.

    • 11 Sep 2017
  • Citic CLSA names new head of fixed income syndicate

    Citic CLSA Securities has appointed a new head of fixed income syndicate in Hong Kong, who will work closely with the brokerage's debt capital markets team.

    • 11 Sep 2017
  • Shorting Australia and securitization for MDBs: ideas from Sustainable Capital Markets Forum

    Two hundred delegates gathered in Amsterdam on Tuesday September 5 for Euromoney Conferences’ fifth Sustainable and Responsible Capital Markets Forum. For the second time, it was organised jointly with GlobalCapital.

    • 11 Sep 2017
  • Thai firm Prima Marine nets $157m with IPO

    Thailand's Prima Marine has secured Bt5.2bn ($156.9m) from its IPO of 650m shares, according to a company announcement on Monday.

    • 11 Sep 2017
  • Bajaj Finance seals $705m return to equity market

    India’s Bajaj Finance capped its fourth and largest equity raise to huge success last week, netting Rp45bn ($705m) from a qualified institutional placement.

    • 11 Sep 2017
  • Wynn Macau bets on investor interest for new bond

    Casino giant Wynn Resorts’ unit Wynn Macau is readying a new dollar bond with an eye to fully redeeming one of its outstanding notes, also announcing a tender offer for the 2021s.

    • 11 Sep 2017
  • Sun Hung Kai ready to boost 2022s with tap

    Hong Kong’s Sun Hung Kai & Co returned to the market on Monday morning, looking to add to its $400m 2022s sold at the end of August.

    • 11 Sep 2017
  • Cromwell Reit opens books for €903m Singapore IPO

    Cromwell European Real Estate Investment Trust launched bookbuilding on Monday for a €902.9m ($1.08bn) listing on the Singapore Exchange, a move in line with the parent’s diversification strategy.

    • 11 Sep 2017
  • Back for more: BOC Aviation soars for new dual-trancher

    BOC Aviation took off with its first dollar-denominated dual-tranche offering on Monday, marking a rapid return to the international debt market this year.

    • 11 Sep 2017
  • China Huarong International allots $800m loan

    China Huarong International Holdings has allocated an $800m loan among 11 lenders, wrapping up a facility that was only opening into syndication in late July.

    • 11 Sep 2017
  • The week in renminbi: PBoC scraps FX forward reserves rule, KraneShares launches OBOR ETF, Bridgewater eyes new China fund

    The People’s Bank of China scraps the requirement for financial institutions to set aside cash as reserves when buying foreign currency forwards, KraneShares launches new ETF to track companies in the Belt and Road Initiative (BRI) projects, and Bridgewater is said to be starting a new investment fund in China.

    • 11 Sep 2017
  • Uruguay to buy back $105m of bonds

    South American sovereign Uruguay will use some of the proceeds from its Ps31.603bn ($1.1bn) of new 10 year local bonds to buy back nearly $105m of old dollar and inflation-linked notes.

    • 11 Sep 2017
  • Türk Ekonomi Bankası signs $623m syndicated loan

    Türk Ekonomi Bankası (TEB) signed a $623m syndicated loan on Thursday, according to a banker on the deal.

    • 08 Sep 2017
  • Intesa loan in doubt as QIA, Glencore sell Rosneft stake to CEFC

    Qatar Investment Authority and Glencore have agreed to sell a 14.16% stake in Russian oil company Rosneft, out of their jointly held 19.5% stake, to Chinese energy company CEFC China Energy.

    • 08 Sep 2017
  • UK MPs question the FCA over softer rules for Aramco

    MPs are preparing to scrutinise the Financial Conduct Authority’s proposal to create a new premium listing category for sovereign-controlled companies, due to fears that it could weaken corporate governance standards of UK-listed companies.

    • 08 Sep 2017
  • Capital markets head leaves NatWest

    The global head of debt capital markets at NatWest Markets has decided to leave the bank after nearly 20 years.

    • 08 Sep 2017
  • TCNS Clothing hires banks for India flotation

    India’s TCNS Clothing Co has mandated Citi and Kotak Mahindra Capital for an IPO slated for next year, according to bankers close to the matter.

    • 08 Sep 2017
  • RYB Education to launch $100m IPO Thursday

    China’s RYB Education is slated to open books on Thursday for its $100m IPO on the New York Stock Exchange, said bankers leading the trade.

    • 08 Sep 2017
  • China Modern Dairy churns out $300m loan with three

    China Modern Dairy, which prepaid an old syndicated loan early last year, is back for a $300m three year offshore borrowing.

    • 08 Sep 2017
  • ICICI Lombard, SBI Life ready insurance IPOs

    ICICI Lombard General Insurance, India’s largest private sector non-life insurer, is set to launch its IPO on September 15, and is eyeing up to Rp57bn ($892.8m).

    • 08 Sep 2017
  • Weichai Power charges up with $775m bond

    Chinese state-owned Weichai Power Co priced a $775m senior perpetual bond on Thursday, enjoying a quiet day of issuance to bag a deal inside analysts’ fair value estimates.

    • 08 Sep 2017
  • China's Jutal eyes short-dated dollar debut

    Short dated bonds appear to be making a comeback, with Jutal Offshore Oil Services receiving approval from its board for a 364 day dollar-denominated note.

    • 08 Sep 2017
  • Macquarie’s Korea fund plans W150bn follow-on

    Macquarie Korea Infrastructure Fund is looking to raise W150bn ($132.9m) through a follow-on offering, publishing a draft prospectus for the deal.

    • 08 Sep 2017
  • Thailand’s Prima Marine docks for $157m IPO

    Thai firm Prima Marine was set to wrap up bookbuilding for its Bt5.2bn ($156.9m) IPO on Friday.

    • 08 Sep 2017
  • Updated: BOCHK eyes giant Rmb9bn Panda bond

    Bank of China Hong Kong (BOCHK) is coming back to the Panda bond market after a two year absence, with the ambition of raising a whopping Rmb9bn ($1.38bn) from a one year note.

    • 08 Sep 2017
  • HBL settles with US for smaller $225m fine

    Habib Bank (HBL) has reached a settlement with US regulators for a much lower fine of $225m, after accusations it had breached anti-money laundering rules wiped 30% off its market value.

    • 08 Sep 2017
  • RMB round-up: BRICS sets up local currency fund, China’s FX reserves up in August, StanChart adds onshore element to RGI

    BRICS countries agree to establish a local currency fund at the summit in Xiamen, China’s FX reserves grew by 0.4% in August, and Standard Chartered adds foreign holdings of onshore assets as a metric to its Renminbi Globalisation Index (RGI).

    • 08 Sep 2017
  • CMS execs bag $156m from accelerated sell down

    Two top executives of China Medical System Holdings raised HK$1.2bn ($156.4m) from an overnight bookbuild on Thursday, opting for size over price.

    • 08 Sep 2017
  • VW China repeats winning formula with new ABS

    Having sealed the largest deal in its Driver China series in May, Volkswagen Finance (China) decided it wanted to raise more from China’s securitization market. The originator stuck to a similar deal structure on September 7, taking home Rmb3.66bn ($569.7m).

    • 08 Sep 2017
  • Mu Sigma bags three commitments in general

    General syndication for Indian data analytics firm Mu Sigma’s debut loan is in its last leg, with three banks having committed so far.

    • 08 Sep 2017
  • Turkey USD3.5bn 5.75% May 47

    • 08 Sep 2017
  • Uruguay uncovers perfect peso moment

    Bond markets gave Uruguay’s inflation expectations a vote of confidence and underlined the sublime funding conditions available for EM issuers by piling into the South American nation’s longest ever nominal peso-denominated bond issue.

    • 07 Sep 2017
  • Suzano starts Brazilian pulp paper flurry

    Pulp and paper producer Suzano Papel e Celulose reopened its 10 and 30 year bonds to the tune of $400m in total on Tuesday, becoming the first Lat Am issuer out of the blocks in September and the first of three pulp and paper companies from Brazil likely to issue this month.

    • 07 Sep 2017
  • Lat Am corps line up in borrower-friendly conditions

    At least eight Latin American corporates are meeting fixed income investors ahead of potential dollar trades next week, with Brazilian credits in particular apparently keen to make up for lost time.

    • 07 Sep 2017
  • Tiny Tajikistan ‘forces investors to look’ at cheap bond debut

    Tajikistan made its debut in the bond markets on Thursday with a bond that came well wide of some investors’ expectations, as one of the smallest economies in the sovereign debt arena paid up to compensate for its shaky balance sheet.

    • 07 Sep 2017
  • Argentines face timing choice as Jujuy seeks green light

    The Province of Jujuy hit the road this week ahead of a potential inaugural international bond sale, but it is not clear how many of the growing list of likely Argentine issuers will come to market in the September rush.

    • 07 Sep 2017
  • EM bankers fret over Qatari bank return

    London’s emerging market bankers are growing increasingly concerned about whether the Qatari central bank will go ahead with encouraging the country’s lenders into international bond markets, as tensions between the country and its Gulf neighbours continue. Michael Turner reports.

    • 07 Sep 2017
  • Bahrain goes for ‘ambitious’ 30 year

    The Kingdom of Bahrain has hired banks for a multi tranche Islamic and conventional trade that at the long end could stretch as far as 30 years, a tenor that some bankers have labelled “ambitious”.

    • 07 Sep 2017
  • Southeast Asia bond supply set to slow down

    Southeast Asian companies have pulled off a dramatic increase in dollar bond issuance this year. But with Indonesia still representing the bulk of deals from the region, bankers are bracing themselves for a slow down as the end of the year approaches. Addison Gong reports.

    • 07 Sep 2017
  • HK-China Green Bond Connect plans divide market opinion

    The Climate Bonds Initiative (CBI) said it is working with Hong Kong’s stock exchange to launch Green Bond Connect, an initiative to help Bond Connect investors identify Chinese bonds that meet international green standards. But market participants are divided on whether such an initiative is necessary. Noah Sin reports.

    • 07 Sep 2017
  • North Korean turbulence has no hold on Asian ECM

    Asian equity capital markets jolted back into life this week, with a handful of overnight blocks signalling the end of the summer lull during the constant furore on the Korean peninsula. Despite the uncertainty, bankers predict equity markets will absorb the noise and battle through. Jonathan Breen reports.

    • 07 Sep 2017
  • Ex-fin min dragged into Halkbank probe

    US prosecutors have widened the net in their case against Turkey’s Halkbank after bringing new charges against the country’s former economy minister and the bank's former general manager for breaking Iranian sanctions, sending Halkbank assets lower but not hitting the rest of the country’s banking sector.

    • 07 Sep 2017
  • Turkey defies soft market to opens taps on dollar 2047s

    Turkey ignored softness in the market to double the size of its 30 year dollar bonds on Wednesday, after reopening its May 2047s for a further $1.75bn.

    • 07 Sep 2017
  • Fesco dollar restructuring inches forward

    Russia’s Far-Eastern Shipping Company (Fesco) has reached a milestone in its dollar bond restructuring saga, after almost half of the holders of its bonds agreed to some key terms.

    • 07 Sep 2017
  • JD.com gears up for $500m loan debut

    JD.com has hired five banks to arrange its $500m debut in the international loan market, making it the latest borrower from China’s red-hot technology sector on the prowl for funds.

    • 07 Sep 2017
  • Otkritie downgraded with sub debt set to suffer losses

    Rating agency Moody’s has slapped beleaguered Russian private bank Otkritie with a two notch rating downgrade this week, as subordinated debt holders in the bailed out bank look set to take heavy losses.

    • 07 Sep 2017
  • Terms emerge for Gajah Tunggal $250m financing

    Pricing has emerged for a $250m borrowing for Gajah Tunggal, an Indonesian tyre maker, according to bankers.

    • 07 Sep 2017
  • Tajikistan kicks off with chunky concession

    Tajikistan has announced initial price thoughts of 8% for its debut 10 year dollar bond, giving it a an eye-catching premium over comparable sovereign debt.

    • 07 Sep 2017
  • Sinopec returns with another giant bond

    China Petrochemical Corp (Sinopec) sealed its second benchmark transaction of the year, a four tranche $3.25bn deal, just five months after the state-owned company took home $3.4bn from a similar transaction.

    • 07 Sep 2017
  • China Aoyuan rides on strong growth with 10x covered deal

    China Aoyuan Property Group took advantage of an improvement in its credit metrics and a recent ratings upgrade to return to the debt market for the second time this year, netting its targeted $250m in the process.

    • 07 Sep 2017
  • Unrated Lai Sun builds $400m bond in busy market

    Lai Sun Development Company beat competition on Wednesday to nab $400m from a bond, managing to price inside the levels achieved by other unrated Hong Kong names recently.

    • 07 Sep 2017
  • People news in brief, September 7, 2017

    K Balasubramanian is returning to Citi as the new head of corporate banking for India, succeeding Rahul Shukla who will turn his focus to senior client coverage.

    • 07 Sep 2017
  • HK’s Hutchison Port cements credentials with new bond

    Hutchison Port Holdings Trust (HPHT) sailed away with $500m on the back of a $3bn order book on Wednesday, proving yet again its strong credentials and reputation in the debt market.

    • 07 Sep 2017
  • Ayala makes triumphant market return

    Investors embraced Philippine company Ayala Corp’s return to the dollar market after more than a decade away, funnelling $2.5bn into a $400m fixed for life deal that attracted attention for its rarity value.

    • 07 Sep 2017
  • GLP launches $4.1bn LBO into senior

    The loan backing Global Logistic Properties’ (GLP) leveraged buyout by a consortium of Chinese investors has been launched into senior syndication at a smaller size of $4.108bn, said bankers arranging the financing.

    • 07 Sep 2017
  • Alibaba-backed Best launches books for $932m US IPO

    Chinese logistics firm Best hit the road on Thursday to start drumming up demand for its $931.5m IPO of American depositary shares (ADS).

    • 07 Sep 2017
  • Chailease allocates $250m 3yr on strong demand

    Chailease International Finance Corp has sealed a $250m term loan after obtaining more funds than initially planned, in its second outing to the market this year.

    • 07 Sep 2017
  • Weichai Power fires up new dollar perpetual

    Shandong-based Weichai Power Co became the sole G3 bond issuer to hit the debt market on Thursday, marketing a senior dollar perpetual deal to help repay acquisition-related loans.

    • 07 Sep 2017
  • Market, not regulators, behind China ABS growth: CSF

    Market demand from smaller companies, rather than regulatory action, is driving China’s asset-backed securitization market, said Kristal Hou, executive general secretary of China Securitization Forum, an industry association.

    • 07 Sep 2017
  • Syngenta unveils first dollar bond since ChemChina takeover

    Seed company Syngenta has mandated banks for a global dollar transaction, its first foray into the market since China National Chemical Corp (ChemChina) completed its acquisition of the company this summer.

    • 07 Sep 2017
  • Uruguay to go further down peso curve

    Just three months after its first ever nominal global peso bond, Uruguay plans to return to debt markets on Thursday for a new peso-denominated note due March 2028.

    • 07 Sep 2017
  • GeoPark to drill for new bond to fund tender offer

    Chilean oil and gas company GeoPark will look to sell new 144A/Reg S bonds to fund the buy-back of all its $300m 7.5% notes due in 2020.

    • 07 Sep 2017
  • Trio! Not one, not two, but three tranches for United Biscuits’ £725m loan

    United Biscuits’ £725m ($948.23m) loan is being split into two term loans and a revolving credit facility with pricing linked to the company’s leverage, according to a banker on the deal.

    • 06 Sep 2017
  • MOEX launches FX fixing instruments to manage risk

    The Moscow Exchange (MOEX) this week began trading for dollar-rouble and euro-rouble fixing instruments, one day traded products that settle into official MOEX FX fixing rates.

    • 06 Sep 2017
  • Investec doubles loan to $600m

    South African bank Investec signed a $600m syndicated loan on Wednesday, double the initial launch amount, making it the second successful bank financing to come out of the country this month after Standard Bank’s $1bn loan.

    • 06 Sep 2017
  • Klabin joins green pipe as pulp pumped up

    As its peer Suzano sold $400m of 10 and 30 year bonds on Tuesday, Brazilian pulp producer Klabin announced plans for its first international bond deal in over four years.

    • 06 Sep 2017
  • Second Argentine province seeking green bond

    Potential first-time issuer the Province of Jujuy could become the second Argentine green bond issuer after mandating two banks for a fixed income investor roadshow.

    • 06 Sep 2017
  • EM bond market braced for Qatari bank return

    London’s emerging market bankers are growing increasingly concerned with how to deal with expectations that the Qatari central bank will encourage its lenders into international bond markets, as tensions between the country and its Gulf neighbours continue.

    • 06 Sep 2017
  • GlobalCapital Sustainable and Responsible Capital Markets Awards 2017: the Winners

    France, Tennet, NWB and Berlin Hyp are among the green and social bond issuers acclaimed in GlobalCapital's Sustainable and Responsible Capital Markets Awards 2017, which were announced on Tuesday in Amsterdam.

    • 06 Sep 2017
  • Suzano slices open Lat Am with tight tap

    Pulp and paper producer Suzano Papel e Celulose reopened its 10 and 30 year bonds to the tune of $400m in total on Tuesday, sneaking into the market with a drive-by trade ahead of a long line of Latin America issuers that are meeting investors this week.

    • 06 Sep 2017
  • Indonesian duo Siloam, MMP prep rights issues

    Siloam International Hospitals is teeing up a rights issue that could raise as much as Rph3.1tr ($231.6m), according to a deal prospectus.

    • 06 Sep 2017
  • Emerging market issuers meet captive audience

    Emerging market bond investors are salivating at the chance to snap up some high yielding bonds, after a snoozy summer period combined with solid inflows left many with cash to spare.

    • 06 Sep 2017
  • BNI launches $500m fundraise into general

    Bank Negara Indonesia (BNI) has invited lenders to participate in a five year $500m fundraising, with general syndication kicking off on Monday.

    • 06 Sep 2017
  • Hyundai’s China JV preps second ABS deal

    Beijing Hyundai Motor Group is gearing up for a Rmb3.5bn ($535.9m) deal in China’s asset-backed securitization market, just over three months after completing a transaction of the same size.

    • 06 Sep 2017
  • Specialists boost research ahead of MiFID II

    Niche players see MiFID II's research rules as an opportunity to win market share.

    • 06 Sep 2017
  • China Minsheng rakes in $800m from anchored deal

    China Minsheng Banking Corp raised $800m from a dual-tranche floating rate deal on Tuesday, with some bankers describing it as a club-style bond because of the 18-strong syndicate group behind it.

    • 06 Sep 2017
  • Touch panel supplier TPK bags $236m from GDR sale

    Taiwan’s TPK Holding raised $236.3m on Tuesday evening from a placement of Global Depository Receipts, pricing the deal near the bottom of guidance.

    • 06 Sep 2017
  • Game on: Pearl Abyss prices $163m IPO

    South Korea’s Pearl Abyss has raised the full W185.4bn ($163.3m) it was targeting in its IPO, as the recent military tensions with its northern neighbour proved to be no hurdle.

    • 06 Sep 2017
  • ONGC Videsh gets one taker for $844m loan

    ONGC Videsh (OVL) has closed its dual currency $844m equivalent loan with just one lender joining the dollar tranche in syndication, said a banker who arranged the borrowing.

    • 06 Sep 2017
  • Joy City builds Panda credentials with Rmb1bn debut

    Red chip property developer Joy City has hit the Panda bond market for the first time, raising Rmb1bn ($153.1m) from a three year bond on September 5. Although the deal was small in size, it caught the attention of some Bond Connect investors thanks to the issuer’s reputation.

    • 06 Sep 2017
  • Ayala set to break 14-year dollar bond hiatus

    Philippine conglomerate Ayala Corp is set for a dollar bond comeback as it markets a fixed-for-life deal, bringing to an end a 14-year absence from the international debt market.

    • 06 Sep 2017
  • Sinopec hits market with year’s second outing

    China Petrochemical Corp (Sinopec) is making a rapid comeback to the dollar bond market. It announced a triple-tranche transaction on Wednesday, just five months after nabbing an impressive $3.4bn from investors.

    • 06 Sep 2017
  • China Aoyuan, Lai Sun seek post-summer deals

    Action in Asia ex-Japan’s offshore bond market picked up on Wednesday, with property developers from Greater China announcing new transactions.

    • 06 Sep 2017
  • Hutchison Port looks to dock second dollar deal

    CK Hutchison Holdings’ subsidiary Hutchison Port Holdings Trust hit the dollar market on Wednesday morning, looking for its first international bond since its debut more than two years ago.

    • 06 Sep 2017
  • Daimler ignites with new Panda

    Daimler’s China expansion keeps the issuer coming back for more onshore funding, with the automaker pricing a Panda private placement less than four months after its previous outing.

    • 06 Sep 2017
  • HKEX eyes green Bond Connect, says CBI

    The Hong Kong Exchange (HKEX) is in talks with Climate Bonds Initiative (CBI) to launch a Green Bond Connect, an initiative to help Bond Connect investors identify Chinese bonds that meet the international standards of green investments, Sean Kidney, CEO at CBI, told GlobalRMB in Beijing.

    • 06 Sep 2017
  • Green guidelines emerge for China’s outbound investment

    China’s Foreign Economic Cooperation Office (FECO) of the Ministry of Environmental Protection and a group of financial industry bodies in China have published a set of guidelines on controlling environmental risk for Chinese overseas investment.

    • 06 Sep 2017
  • New head of EM sales starts at Deutsche

    Deutsche Bank has hired a new head of emerging market sales covering Europe, Middle East and Africa.

    • 05 Sep 2017
  • Rush of blocks greets funds after Labor Day

    After the US public holiday on Monday restricted trading, the equity block trades market in EMEA reopened spectacularly this week, with a rush of large deals from across the region.

    • 05 Sep 2017
  • Dah Chang Futures logs onto SGX as derivatives trading member

    A subsidiary of Taiwan-based Dah Chang Securities on Tuesday became a derivatives trading member with Singapore Exchange (SGX), joining fellow new arrivals I-Access, Shinhan Investment and Cathay Futures.

    • 05 Sep 2017
  • Albaraka Turk launches $100m Islamic facility

    Albaraka Turk, Turkey’s first participation, or Islamic, bank, kicked off the syndication of a $100m murabaha facility on Tuesday.

    • 05 Sep 2017
  • Chile’s Enap plots bond sale

    Empresa Nacional del Petróleo (Enap), the state-owned Chilean oil company, is looking to issue its first bond in a year shortly after escaping negative rating actions despite several downgrades to the sovereign’s rating.

    • 05 Sep 2017
  • Market ripe for Ukraine return

    Ukraine is understood to have picked banks for its first Eurobond since 2013, and following a massive rally of the sovereign’s bonds, its reception in the market is expected to be strong.

    • 05 Sep 2017
  • Corp trio hits the road as EM primary heats up

    The dry spell is over for investors in emerging market debt with several mandates hitting the screens on Tuesday. The first trades will be eagerly watched as a barometer for new issue premiums after a summer that has seen escalating geopolitical tensions and further questions about the direction of travel of both the European Central Bank and the US Federal Reserve.

    • 05 Sep 2017
  • Hong Kong needs to get IPO Connect right

    China’s A-share market has one of the largest pools of domestic investors in the world. So it’s no surprise Hong Kong’s exchange is desperate to link its primary IPO market with the mainland. While there could be plenty of benefits, the city’s regulator should think long and hard before opening itself up to a potentially uncontrollable flood of money.

    • 05 Sep 2017
  • TPK Holding launches $242m GDR offer

    Taiwan’s TPK Holding Co has opened books for a placement of Global Depository Shares with a view to raise around NT$7.27bn ($242.01m).

    • 05 Sep 2017
  • UOB, CICET boost collaboration in Chongqing

    United Overseas Bank (China) has signed a memorandum of understanding with China Chongqing International Economic and Technical Cooperation Group Corp (CICET) to support the latter's business expansion into ASEAN.

    • 05 Sep 2017
  • Green finance a ‘key pillar’ of Belt and Road: PBoC

    The development of green finance will be a key pillar to the success of the China-led Belt and Road Initiative, according to Yin Yong, deputy governor of the People’s Bank of China, speaking at a forum in Beijing this week.

    • 05 Sep 2017
  • Ruifeng Power revs up Hong Kong listing plans

    Chinese automobile parts manufacturer Ruifeng Power Group Co filed an IPO application with the Hong Kong Stock Exchange on Monday.

    • 05 Sep 2017
  • Allotments out for Adira Dinamika's bigger $250m loan

    Adira Dinamika Multi Finance has signed up lenders to a $250m borrowing, following a good run in general syndication that allowed the company to hike the loan.

    • 05 Sep 2017
  • Citi hires Apac prime finance head from BNP

    Citi has named Sebastien Mailleux as head of prime finance for Asia Pacific, replacing Angus Yang, who has left the firm.

    • 05 Sep 2017
  • Mapletree Logistics eyes $472m from block, rights

    Mapletree Logistics Trust will fund its acquisition of a Hong Kong warehouse with a S$640m ($471.5m) dual tranche equity raise, following in the footsteps of its sister unit last year, as well as with debt.

    • 05 Sep 2017
  • China Minsheng offers investors dual-tranche floaters

    China Minsheng Banking Corp has jumped into the debt market, opening a dual-tranche floating rate offering for dollar investors through its Hong Kong branch on Tuesday.

    • 05 Sep 2017
  • DBS to establish wholly-owned subsidiary in India

    DBS Group Holdings has received approval from the Reserve Bank of India to establish a wholly-owned local subsidiary in the country, a big fillip to a firm that was Singapore’s first bank to set up a representative office in India.

    • 05 Sep 2017
  • China, UK to join hands in green finance, says PBoC

    China and the UK will continue to promote the development of green finance through bilateral collaborations, despite the decision by US president Donald Trump to withdraw from the Paris Agreement, said Chen Yulu, deputy governor of the People’s Bank of China.

    • 05 Sep 2017
  • Steinhoff Africa Retail may be worth $6.1bn

    Steinhoff International, the South African conglomerate, has opened the books on the IPO of Steinhoff Africa Retail (Star), a company formed from its African retail assets, which could value the business at up to R79.3bn ($6.1bn) if it is priced at the top of its range.

    • 04 Sep 2017
  • Kenya, Korea fail to quash EM demand

    Emerging market bonds remain set for a busy September as weak US data pushed dulled expectations of Federal Reserve rate hikes, outweighing escalating tensions between the US and Korea, and the Kenyan Supreme Court's decision to annul the result of the August 8 election.

    • 04 Sep 2017
  • UniCredit sells down Invitel loan to five banks

    UniCredit syndicated a loan it underwrote for Hungarian communications company Invitel in January to five banks last week.

    • 04 Sep 2017
  • EA Partners deals lift off once more

    The two structured bonds issued by EA Partners that have suffered in secondary markets as a result of the the collapse of Air Berlin have recovered three cash points after the borrower issued a statement to say it anticipated that the next coupon payments will be made.

    • 04 Sep 2017
  • Chile minfin resigns, Eyzaguirre returns

    Rodrigo Valdés, who was finance minister of Chile since May 2015, has resigned from his post over policy differences with the government.

    • 04 Sep 2017
  • Exotix hires Lat Am corporate credit analyst

    EM specialist firm Exotix has hired a well-known corporate credit analyst to lead its coverage of Latin American companies from New York.

    • 04 Sep 2017
  • L&T infra unit applies for India trust listing

    Indian conglomerate Larsen & Toubro has laid out plans to float an infrastructure investment trust, giving the fledgling asset class a boost.

    • 04 Sep 2017
  • CSRC waves through Bank of Qingdao's offshore AT1 plan

    Bank of Qingdao has become the latest Chinese lender to move a step closer to selling offshore preference shares, receiving the blessing from the China Securities Regulatory Commission (CSRC).

    • 04 Sep 2017
  • Adani mines for A$250m loan for Oz project

    Adani Abbot Point Terminal, a unit of Indian conglomerate Adani Group, is hunting for an A$250m ($199m) syndicated loan, with the deal open to new lenders.

    • 04 Sep 2017
  • Green ABS needs definitions, says China-UK working group

    The lack of rules and standards is holding back the development of green asset backed securitization (ABS), a UK-China joint task force on green finance has said.

    • 04 Sep 2017
  • Indonesia's Spindo ready for dollar market plunge

    Steel Pipe Industry of Indonesia (Spindo) is courting investors in Asia and Europe this week, in pursuit of its first international dollar bond.

    • 04 Sep 2017
  • AK Medical, LH Group file for Hong Kong IPOs

    AK Medical Holdings is reviving its Hong Kong IPO, filing draft documents for the second time after its initial attempt in April last year proved fruitless.

    • 04 Sep 2017
  • Rusal's Panda bond ends market siesta

    Russian aluminium producer Rusal priced its second Panda bond of the year on September 1, reopening the market after a quiet month.

    • 04 Sep 2017
  • Weichai Power gears up for senior guaranteed perp

    Weichai Power Co will sell senior dollar perpetual bonds worth no more than the equivalent of €650m ($772m) to help pay off some bank loans taken for the acquisition of shares in Kion Group.

    • 04 Sep 2017
  • The East is Red

    In the latest Clawback, columnist Philippe Espinasse puts cash trading numbers in Hong Kong under the microscope to some rather interesting results.

    • 04 Sep 2017
  • IDFC Singapore promotes from within for new CEO role

    The Singapore-based arm of IDFC Securities has appointed a chief executive officer, a newly created position after it obtained a capital markets services licence for the city-state.

    • 04 Sep 2017
  • Manulife Reit eyes fundraise for Jersey tower buy

    Manulife US Real Estate Investment Trust is looking to raise $208m from a rights offering to finance its acquisition of an office building in New Jersey.

    • 04 Sep 2017
  • Zai Lab opens books for $106m US listing

    Chinese biotech firm Zai Lab has launched bookbuilding for a $105.9m IPO of American Depository Shares (ADS), and is counting on US investors favouring start-ups to support the deal.

    • 04 Sep 2017
  • India's HT Global makes comeback for dollar tap

    India’s HT Global IT Solutions Holdings is returning to the dollar market for a tap of its debut notes sold last summer.

    • 04 Sep 2017
  • Westpac creates new Asia macro strategy head position

    Australia’s Westpac Banking Corp has hired an experienced economist to head up its macro strategy team for Asia.

    • 04 Sep 2017
  • The week in renminbi: Brics summit kicks off, NDB to expand lending, CSRC signs MoU

    The Brics Business Forum opens today, the New Development Bank is set to lend $2.5bn next year, and China Securities Regulatory Commission (CSRC) signs agreement with Greek counterpart.

    • 04 Sep 2017
  • Tanzania signs $500m syndicated loan

    Tanzania has signed a $500m loan with Credit Suisse and a syndicate of other banks, according to an official close to the deal.

    • 01 Sep 2017
  • United biscuits signs £725m loan with 21 banks

    United Biscuits, the maker of McVitie’s biscuits and Jacob's Crackers, signed a £725m syndicated loan on Thursday with 21 banks.

    • 01 Sep 2017
  • China Education aims for $300m from HK IPO

    China Education Group is looking to follow a stream of its Mainland peers listing in Hong Kong, and is targeting an IPO of as much as $300m, according to a source close to the deal.

    • 01 Sep 2017
  • China SCE nets $205m as property stocks rally

    China SCE Property Holdings scooped up HK$1.6bn ($204.5m) from an overnight block on Thursday that was timed to perfection, taking advantage of a share price rally to its highest point for the year.

    • 01 Sep 2017
  • KEB Hana goes tight with debut dollar Formosa

    KEB Hana Bank sold its first dollar Formosa bond and only its second floating rate note post its merger on Thursday, raking in $350m. Ample liquidity in Taiwan and investors’ hunt for offshore assets buoyed the transaction.

    • 01 Sep 2017
  • Incomplete data clouds Bond Connect’s success

    Driven by a rush to buy short term paper, Bond Connect flows through Shanghai Clearing House (SHCH)’s recorded their largest volume so far last week. But a closer look at the data suggests that markets are not getting the full picture of how successful the scheme has actually been.

    • 01 Sep 2017
  • ICBCI plans new $500m offshore loan

    ICBC International (ICBCI) has approached banks for a $500m syndicated loan facility with Agricultural Bank of China at the helm.

    • 01 Sep 2017
  • Landing, China HKBridge tap equity investors for funds

    Entertainment and gaming company Landing International Development has added HK$1.8bn ($230m) in fresh capital to its coffers after placing a chunk of new shares.

    • 01 Sep 2017
  • The HK RQFII race is back on

    The long-awaited expansion of the Hong Kong RMB qualified foreign institutional investor (RQFII) quota, coming at a time of increased appeal of China assets, has triggered a rush by global money managers to get a piece of the action.

    • 01 Sep 2017
  • Private bank demand fuels Sun Hung Kai's bond

    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.

    • 01 Sep 2017
  • Zai Lab eyes Tuesday start for bookbuilding

    Zai Lab is set to kick off roadshows on Tuesday for its $150m IPO on the Nasdaq, according to a banker leading the transaction.

    • 01 Sep 2017
  • Vijaya Bank bags $109m from QIP fundraise

    Indian state-owned Vijaya Bank raised Rp7bn ($109m) from a qualified institutional placement on Thursday, jumping on the chance to tap equity investors after an impressive rally in its stock price.

    • 01 Sep 2017
  • RMB round-up: Date set for Party congress, Sharjah plans Middle East’s first Panda bond, RMB back as fifth most used payments currency in July

    The Communist Party congress is set to kick off on October 18, the emirate of Sharjah plans the Middle East’s first Panda bond issuance, and Swift data says the renminbi was the fifth most used currency for payments globally in July.

    • 01 Sep 2017

Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 50,511.35 236 10.03%
2 HSBC 47,649.84 276 9.46%
3 JPMorgan 43,522.85 199 8.64%
4 Deutsche Bank 25,152.98 103 5.00%
5 Standard Chartered Bank 22,724.72 160 4.51%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 16,203.89 42 15.46%
2 HSBC 13,628.00 31 13.00%
3 JPMorgan 13,340.17 45 12.72%
4 Bank of America Merrill Lynch 9,682.00 34 9.23%
5 Santander 7,764.84 31 7.41%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 18,507.77 74 12.44%
2 Citi 18,410.22 67 12.38%
3 HSBC 11,226.91 57 7.55%
4 BNP Paribas 9,609.48 28 6.46%
5 Deutsche Bank 9,255.29 24 6.22%

EMEA M&A Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 ING 2,658.10 22 9.14%
2 SG Corporate & Investment Banking 2,230.05 19 7.67%
3 Sumitomo Mitsui Financial Group 2,109.11 8 7.25%
4 UniCredit 2,041.07 15 7.02%
5 Commerzbank Group 1,436.12 14 4.94%

Bookrunners of India DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 AXIS Bank 11,125.69 147 23.28%
2 ICICI Bank 4,885.03 124 10.22%
3 Trust Investment Advisors 4,513.04 124 9.44%
4 Standard Chartered Bank 3,424.15 36 7.17%
5 HDFC Bank 2,357.62 64 4.93%