Standard Chartered

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.

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.

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.

China’s Huadong Medicine Co has turned to the loan market for the first time.

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.

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.

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.

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.

In an extremely challenging year, Standard Chartered showed its strength and leadership in continuing to find liquidity for its clients in the African loans market, lead arranging financings for some 18 borrowers, almost three times as many as the bank’s nearest competitor.

Saudi Arabia sold its second euro denominated bond on Wednesday, achieving a negative yield — the first bond of its kind from a Middle East issuer. However, some in the market were underwhelmed with the transaction, which they say is evident in the deal statistics.

The Export-Import Bank of Korea returned to the offshore renminbi bond market after nearly three years this week. It took advantage of a recent rally in the CNH swap rate to raise Rmb1.5bn ($232.4m). Addison Gong reports.

Indian telecommunication company Bharti Airtel found strong support from global investors for its bond this week, allowing it to raise more money than expected and price the $1.25bn deal at a tight level.