ANZ

China Cinda (HK) Holdings Co priced a $2bn four-tranche transaction on Wednesday, paying a premium to reach its size target as the fast-spreading novel coronavirus, or Covid-19, continued to rattle global markets.

A window for Kangaroo issuance opened this week, as a positive move in the Australian dollar/euro basis swap helped rouse a slumbering market that had not seen a deal for a fortnight. In spite of unstable conditions, SSAs entered the market on Monday and Tuesday, with a trio of regular borrowers tapping six lines for a combined A$575m ($364m).

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

Bank of Communications Financial Leasing Co (BoCom Leasing) found strong support from investors for its $800m dual-tranche floating-rate deal on Monday, thanks to its status as a defensive credit in a volatile market.

Chinese delivery services company SF Express is planning to repay a HK$5bn ($640m) loan sealed in September 2019 with the proceeds of a longer tenor bond issued last week.

China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has launched a $300m deal into general syndication, marking its second attempt at tapping the loan market.

China Aoyuan Group and China Huarong Financial Leasing Co this week raised a combined $388m from bonds that will mature in less than one year, taking advantage of a regulatory loophole to tap the market with short-dated deals.

Industrial and Commercial Bank of China turned to the Australian debt market on Monday to raise A$500m ($336m) through its Sydney branch.

Fosun International has returned to the offshore loan market for a $650m refinancing that is being run by a large banking group at the top.

The World Bank on Tuesday brought a new five year Kauri bond — the largest since August — at a “pretty aggressive” level to its Australian dollar curve.