Bank of China

Indonesia’s Sarana Multi Infrastruktur (SMI) has mandated five banks for a planned $500m refinancing loan. But bankers on the deal warn the terms could change due to uncertain market conditions.

Herald International Financial Leasing, a subsidiary of German carmaker BMW, bagged a Rmb3bn ($425m) dual-tranche asset-backed note on Tuesday, its largest ABN outing yet. Both the senior tranches were priced 100bp tighter than the issuer’s last two outings.

Hong Kong-listed Xiaomi Corp sold its first private placement Panda bond on Thursday. The Rmb1bn ($141m) deal was priced tighter than banks and the issuer previously expected.

New Development Bank, a multilateral development bank established by the five BRICS countries, sold a Rmb5bn ($704m) three year Panda bond on Thursday. All proceeds will be used to fund an emergency loan NDB recently promised to three Chinese provincial governments to help them combat the Covid-19 outbreak. Rebecca Feng reports.

Carnival Cruises, the world’s largest leisure travel company, is rolling the dice on a coronavirus rescue package, launching a $1.25bn underwritten rights issue, $1.75bn convertible bond, and a $3bn dual currency high yield bond.

China’s Xiaomi Corp is planning to print a Rmb1bn ($141m) private placement Panda bond next week, in what will be the smartphone and appliances maker’s first outing in the onshore bond market.

Mercedes-Benz Auto Finance broke an almost year-long break from the China auto ABS market this week with a Rmb6.316bn ($892m) deal. The company added a three month revolving period to its transaction, a rarity for issuers.

Property developer New World China Land has closed a HK$6.85bn ($880m) loan, attracting nine participants during syndication.

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.

Sumitomo Mitsui Banking Corp is planning to issue a Rmb1bn ($144m) three year Panda bond soon, a banker on the deal told GlobalCapital China.

Bank of China made headlines last week for selling the first offshore Covid-19 linked bond. But the trade's status as a social bond — the first to come offshore from China — got less attention. The transaction shows the potential for social bonds from the country, while raising questions about why it has taken so long to see such a deal.

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