Standard Chartered
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Shanghai Pharmaceuticals Holding Co has managed to slice the margin and fees on a $500m comeback to the loan market. -
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The London branch of South African lender Investec has successfully debuted in the sustainability-linked syndicated loan market.
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The Islamic Republic of Pakistan returned to the bond market on Wednesday, raising $1bn in a triple part tap of its existing dollar bonds. Market participants say they are ‘impressed’ with the way reforms are headed in the South Asian country amid its International Monetary Fund programme.
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A recent lull in dollar bond supply from Indian corporations meant investors rushed to buy REC’s $400m deal on Tuesday, with the electricity company leveraging the demand to price inside of fair value.
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Shanghai Pudong Development Bank (SPDB) leaned on a large syndicate team to sell a dual-currency bond that was mainly bought by other Chinese banks.
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Royal Bank of Canada has sold the third Canadian covered bond in sterling this year, landing its £1.25bn deal at a spread identical to those of its two peers. Meanwhile, Münchener Hypothekenbank is set to join the sterling spree in the coming days with the first fixed rate covered bond in the currency since 2018.
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The Emirate of Sharjah is returning to the international bond market just months after its last visit, but this time marketing a sukuk that will place it among the ranks of major emerging market issuers — both sovereign and corporate — to have raised cash at competitive levels recently with the Sharia-compliant instrument.
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Emaar Properties, the UAE-based luxury real estate developer, was planning to sell a dollar sukuk on Tuesday. It followed a string of emerging market Sharia-compliant trades in recent weeks that have been absorbed by a hungry investor base.
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The Republic of the Philippines focused on investors keen to buy long-dated bonds by selling a dual tranche dollar deal this week. The $3bn trade featured a chunky $2.25bn 25 year portion that easily trumped the sovereign's last similar outing.
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LG Chem got an $8.5bn final book for a $1bn dual-tranche green bond this week, with the deal pricing through some fair value estimates and ending the South Korean chemical company's two year hiatus from the debt market.
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Redco Properties Group made its offshore renminbi denominated sustainable bond debut on Monday, raising Rmb600m ($93m).
