Bank of China

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.

China Industrial Securities Co priced its $300m bond at a tighter level than expected due to support from its hefty syndicate team, defying concerns even among some of the banks on the transaction whether the issuer would hit its funding target.

SAIC-GMAC Automotive Finance Co has wasted no time in making its second appearance in China’s onshore auto loan ABS market this year, selling a Rmb10bn ($1.55bn) Rongteng 2021-2 transaction on Monday.

Whitbread, the UK hospitality group, has mandated banks for a debut green trade, setting up a pricing battle between a red hot bond structure and a Covid-19 battered sector.

CMB Financial Leasing Co had to navigate hurdles around structure, timing and pricing for its dual-tranche bond outing this week, managing to bag $800m from a $2.7bn order book.

Bank of China Hong Kong has sold the first Yulan bond, a new asset class that was only launched in December, raising $500m from the market. But the deal saw limited interest as investors come to grips with the product.

Flex, the US-Singapore electronic component maker, has signed a $2bn revolving credit facility, in what leads are describing as the first ESG-linked syndicated revolving credit facility for the US technology sector.

China's Avic International Holding Corp had to offer investors a premium for its latest dollar bond, to compensate them for the risk associated with its inclusion on a US sanctions list.

The Asian Development Bank (ADB) has hired banks to arrange a roadshow for its first Panda bond in over a decade, to be launched after Chinese New Year.

Macau casino operator SJM Holdings generated a $10bn-plus book for its $1bn debut bond this week, despite tight pricing and the lack of US investors. Its credit profile, the transaction’s timing and a comprehensive marketing strategy worked in its favour.

Chinese companies were undeterred from selling bonds last Friday, usually a quiet day of the week for deal flow, with four borrowers raising funds.