Standard Chartered
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The Asian Infrastructure Investment Bank (AIIB) returned to the market this week to place two more deals, as it ramps up its MTN issuance following a debut in Hong Kong dollars last Friday. -
The Emirate of Dubai surpassed expectations on its return to the bond market six years after its last issuance, with the sukuk tranche of its dual trade gaining notable traction. The borrower is the third Emirate to enter debt markets since the coronavirus crisis began.
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Beijing Infrastructure Investment Co used a direct guarantee structure for its dollar bond return instead of a keepwell agreement, just days after keepwell deals sold by Peking University Founder Group were not recognised in a debt restructuring. The move paid off for the metro operator — bolstering the rating of its deal and helping it get away with tight pricing. Alice Huang reports.
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Standard Chartered has relocated a veteran banker from Taiwan to take on the newly created job of chief executive officer for the Greater Bay Area.
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Glencore, the UK commodity trading company, captured the corporate bond market’s attention on Wednesday with the first test of demand for a cyclical credit since the summer break. Investors jumped at the deal, with leads launching it flat to the borrower’s curve.
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Philippine oil refining and marketing company Petron is seeking lenders’ consent to make amendments to two of its old borrowings, following an initial warning in July.
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Mercedes-Benz Auto Finance is planning to sell a Rmb6.26bn ($917m) dual tranche auto securitization transaction next week after a six-month break from the onshore market. The issuer has doubled the length of the revolving period compared to its previous outing.
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The Arab Republic of Egypt has secured its debut syndicated conventional and Islamic facility from a range of local and international lenders as it attempts to support the state budget, which has come under major pressure during the coronavirus crisis.
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Following a trailblazing issuance from Abu Dhabi last week, the Emirate of Dubai has mandated banks to arrange a dual tranche offering, including a sukuk — its first international DCM outing since 2014. Qatar’s Ahli Bank was also in the market on Tuesday, launching a benchmark dollar bond.
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ABC International Holdings took advantage of receptive market conditions to make a rapid return to the bond market this week.
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A $600m loan to support Baring Private Equity Asia’s take-private of Indian software firm Hexaware Technologies has been launched into general syndication, with three banks joining at the top level.
