Standard Chartered

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.

AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.

The Republic of Korea wowed investors in the dollar and euro markets on Wednesday, with a record $1.45bn-equivalent dual-tranche bond. The deal, split between 10 year dollar and five year euro notes, was priced at ultra-tight spreads — including a negative yield for the euro tranche. Morgan Davis reports.

The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.

Singapore’s United Overseas Bank has bagged the lowest yield globally for a Basel-III compliant tier two dollar bond, breaking the record set by its peer Oversea-Chinese Banking Corp just last week.