ICBC
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China Great Wall Asset Management Co priced its first dollar bonds since May 2018, attracting investors amid subdued supply from the Chinese AMC sector. -
Industrial and Commercial Bank of China tapped the sterling market through its London branch on Wednesday to become the first Chinese bank to sell a senior benchmark bond in the currency. Demand was driven by an anchor investor, with the lead managers increasing the size of deal to satisfy as many orders as possible.
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Ford Automotive Finance sold a Rmb4.776bn ($694m) four-tranche auto loan ABS on Tuesday, its biggest ABS so far, pricing the three senior tranches at tight levels.
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Cofco International, a commodities trading unit of China’s agri-products company Cofco, has increased its sustainability-linked loan to $2.3bn after receiving commitments from 21 lenders.
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Chinese real estate company Country Garden has closed its $1.1bn-equivalent syndicated loan.
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Czech energy distributor EP Infrastructure came to market on Tuesday morning for a seven year Reg S benchmark — its second ever bond. The bond had been announced on Monday as a dual tranche six year and 10 year.
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As Turkish bank borrowers prepare to refinance existing debt, a plethora of domestic and geopolitical troubles has once again brought pricing into question. Though secondary market spreads remain tight, bankers say primary issuance could widen.
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Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent to test the market’s appetite for the deal.
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Ford Automotive Finance is set to join the Chinese auto loan ABS issuance spree with a Rmb4.776bn ($695m) four-tranche deal on July 23. After this transaction, the originator will have raised a chunky Rmb31.6bn from the market since its debut five years ago.
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Six months after receiving the licence to rate Chinese domestic issuers and their issuance programmes, S&P Global (China) Ratings has provided its first rating in the Mainland.
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Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.
