Standard Chartered
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On Wednesday, the Emirate of Sharjah sold a $1.25bn dual tranche bond. Though the issuer conceded that market conditions were not "perfect", given sustained volatility in US Treasuries, this week’s deal allowed the state to extend its credit curve.
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Mamoura Diversified Global Holding, an Abu Dhabi sovereign investment vehicle, launched a euro bond on Thursday. Issuers with access to and a need for both currencies, investors said, will find a haven in the euro market while volatility in dollar yields continues.
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Huadong Medicine seeks $150m debut — Indomobil revs up $200m club — PLN delays loan — Jih Sun plans April syndication
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Arab Petroleum Investment Corp, the multilateral development bank headquartered in Saudi Arabia, returned to the capital markets to tap a bond it issued just last month. The dollar note saw a notable tightening in pricing.
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Toyota Motor Finance (China) Co has sealed the senior tranches of its auto ABS deal at negative spreads to onshore benchmarks thanks to strong backing from Japanese investors, putting the post-Chinese New Year securitization market on strong footing.
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The Emirate of Sharjah is sounding out investors for a dollar bond syndication, just months after its last issue. Some investors, however, said they were wary that the issuer was on the cusp of becoming a sub-investment grade credit.
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Mamoura Diversified Global Holding, an Abu Dhabi sovereign investment vehicle, has mandated banks to sound out interest for a euro bond. The mandate follows a week of issuance in the currency from other CEEMEA borrowers.
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China’s Huadong Medicine Co has turned to the loan market for the first time.
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Mining giant Vedanta Resources was back in the debt market on Thursday with a $1.2bn trade, giving further comfort to investors that it has not abandoned its plans to clean up its corporate structure.
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China Development Bank Financial Leasing Co rode on solid demand for its dual tranche $1bn transaction on Thursday to seal the bonds inside of fair value, hitting both its targeted price and size.
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Huatong International Investment Holdings Co, a Chinese local government financing vehicle, raised $600m from its bond on Thursday, but had to sacrifice a tighter price for a larger transaction.
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While Turkish banks and corporates have ably endured periods of markets volatility in recent years, the impact of the pandemic last year presented a particularly tough test, one that threatened to disrupt the loan financing flows to the country.