Standard Chartered

The Asian Infrastructure Investment Bank (AIIB) and the New Development Bank (NDB), two new supranational borrowers focused on the emerging markets, are preparing to issue new dollar bonds to support their member states in the fight against the pandemic.

Industrial and Commercial Bank of China raised a smaller than planned $2.9bn from its additional tier one outing, buffeted by a surge in supply this week and a softer market backdrop. Alice Huang reports.

Qatar’s largest bank, Qatar National Bank (QNB), has raised the country’s first green bond, in a deal that achieved a new issue discount while diversifying and expanding the issuer’s investor base.

Henan Water Conservancy Investment Group sold its maiden $500m bond on Tuesday, adding to the high grade supply from China’s local government financing vehicles (LGFVs). But its deal was not easy, with the issuer having to navigate a handful of obstacles.

Bank of Communications Financial Leasing has returned to the loan market, inviting banks to join a $300m three year green deal.

Two Gulf bank issuers — Qatar National Bank and Gulf International Bank — hit bond markets on Tuesday to raise dollar funds, following what has been a busy period for Middle Eastern issuers. With investor appetite remains ravenous and market conditions healthy, there is scope for further issuance.

The New Development Bank has appointed the syndicate to lead its second dollar benchmark, the proceeds of which will fund its coronavirus response.

Saudi Electricity Co, which is majority-owned by the kingdom of Saudi Arabia, has raised its debut green sukuk — making it the first green bond ever issued by a Saudi issuer, just months after the Ministry of Finance raised a green export credit agency-backed syndicated loan.

Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

ENN Energy Holdings, one of China’s largest clean energy distributors, raised $750m on Thursday with its green bond debut.

The Kingdom of Bahrain, one of only two sub-investment grade sovereigns in the typically highly rated Gulf, tapped investors this week for its second bond of the year. The deal comes just weeks after Bahrain increased its debt ceiling, as Gulf states grapple with the impact of low oil prices and Covid-19 on their spending plans.

State-owned Saudi Electricity Co is set to debut in the still nascent green sukuk market, making it only a handful of issuers across the world to do so.