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GC Asia
FIG
KDB uses Covid label to raise $1bn
Korea Development Bank took $1bn from a dual tranche transaction on Monday, using a social label for one portion of the bond to attract a new group of investors.
08.15 AM
Covid-19 Crisis
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Follow-ons/Rights Issues
Mapletree eyes S$650m for property acquisitions
Singapore-listed Mapletree Logistics Trust is funding an acquisition spree of logistics assets in Asia by tapping the equity market for up to S$650m ($479m).
07.00 AM -
Leveraged/non-investment grade
Pan Brothers under pressure to meet loan refi
Indonesia’s Pan Brothers has requested Moody’s to withdraw its corporate issuer rating after a spate of downgrades this year, as the textile company struggles to put together a loan to meet some of its looming maturities.
06.30 AM -
ABS
Intesa Sanpaolo completes €2bn SME risk transfer with EIB
Intesa Sanpaolo has issued a €2bn risk transfer securitization to help fund Italian SMEs, boosted by an investment from the EIB and the EIF.
19 Oct 2020 -
ABS
EIB boosts SRT investment commitment by €1bn
The newly established European Guarantee Fund has greenlit a further €1bn lending for risk sharing products, allowing the EIB to continue investing in significant risk transfer (SRT) transactions to support European SMEs.
16 Oct 2020 -
ABS
Santander increases mammoth German consumer ABS after demand surge
Santander Consumer Bank has increased its debut public German consumer ABS from €1.4bn to €1.8bn after the deal saw huge demand, making it one of the largest public securitizations in Europe this year.
15 Oct 2020 -
RMBS
PE firm Exponent brings first UK non-conforming RMBS
Exponent, the UK private equity fund that owns online greeting company Moonpig, the Racing Post and Big Bus Tours, is bringing its debut non-conforming UK RMBS to market.
15 Oct 2020 -
Senior Debt
Woori Bank debuts in Aussie dollars with Covid bond
South Korea’s Woori Bank sold its first Kangaroo bond on Thursday, raising A$400m to help fund its response to the coronavirus pandemic.
15 Oct 2020 -
Senior Debt
Woori seeks Covid-19 relief in Kangaroo mart
Woori Bank is preparing to make its Kangaroo bond debut, choosing the market to launch its first Covid-19 response bond.
14 Oct 2020 -
RMBS
Domivest brings second Dutch RMBS of 2020
Cervus-backed Dutch lender Domivest is bringing its second deal of the year, Domi 2020-2, a €272m RMBS offering five tranches and listing three others as “call desk.”
09 Oct 2020 -
IPOs
Converge ICT prices Philippine IPO low
Converge ICT Solutions, an internet service provider, has bagged Ps25.2bn ($521.1m) from its Philippine IPO after pricing the stock just off the bottom of the marketed range.
09 Oct 2020 -
IPOs
Excellence Commercial closes books early for HK$3.2bn IPO
Excellence Commercial Property and Facilities Management Group has closed its IPO early on the back of strong investor demand. It is looking to price its deal at the top of the range, according to a source close to the listing.
09 Oct 2020 -
Leader
EU can’t have it both ways on securitization
The European Parliament’s proposals on the role of the securitization in fixing the European economy are set to nullify any benefit STS might grant to the synthetic market. With Europe’s economy at stake, the Parliament must decide whether ABS is a hindrance or a help.
08 Oct 2020 -
People & Markets
Clash at top of EU over ABS threatens market revival
The European Commission is facing pushback from the European Parliament over it turning to synthetic securitization — a market that still echoes the 2008 crisis for many legislators — to boost the ABS market and repair Europe’s economy in the aftermath of Covid-19. Tom Brown reports.
08 Oct 2020 -
ABS
Euro ABS tightens, but Brexit to curtail sterling issuance in near term
European ABS continues to tighten in the primary market, but in sterling, sources say Brexit risk is likely to deter the majority of public issuance.
08 Oct 2020 -
Syndicated Loans
Indian loan market shows signs of revival, but faces challenges
Indian borrowers are finally returning to the offshore loan market after months of little to no action. But even as a pipeline builds, bankers remain wary of challenges around execution. Pan Yue reports.
08 Oct 2020 -
Follow-ons/Rights Issues
Cebu Air seeks $500m to tackle Covid impact
Philippine carrier Cebu Air is looking to tap the equity markets for $500m, in an attempt to position itself for a recovery from the impact of the Covid-19 pandemic.
08 Oct 2020 -
ABS
SG, Intesa Sanpaolo mandated for Italian salary and pension loan ABS
ViViBanca has mandated Société Générale as arranger and Intesa Sanpaolo as joint-leads to price a €344.7m Italian consumer ABS deal backed by salary and pension assignment loans, Eridano II.
07 Oct 2020 -
ABS
Largest Greek non-bank ABS sees EIF investment
The European Investment Fund has subscribed to €43m of an electric and hybrid car lease ABS from rental care company Avis, which has raised €130m via Cronus Finance, the largest non-bank Greek securitization issued to date.
06 Oct 2020 -
Senior Debt
Woori prepares to make Kangaroo bond debut
Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.
06 Oct 2020 -
The View
Asian bond issuers: time is running out
Asian borrowers looking to tap the international dollar bond market this year have only a small window of opportunity to raise funds. They should act quickly.
06 Oct 2020 -
Leveraged/non-investment grade
International SOS makes loan debut
International SOS, a Singapore-based emergency medical assistance provider, is making its debut in the syndicated loan market for $320m.
06 Oct 2020 -
Securitization
Insider trading risk delayed ABS deals in early 2020
Concerns around disclosure of mortgage forbearance figures and payment holidays led to deals scheduled for issuance earlier in 2020 being delayed to later in the year, as issuers feared securitization investors having access to information not widely disseminated to other investors.
05 Oct 2020 -
CLO/CDO
Santander pre-places €2.2bn risk-transfer SME deal with EIB
The European Investment Bank has taken down a €2.2bn synthetic balance sheet CLO originated by Santander CIB, executing a significant risk transfer to free up exposure to a Spanish SME portfolio.
01 Oct 2020 -
ABS
NewDay increases ABS, removes dollar tranche
Cinven and CVC-owned issuer NewDay has priced its largest ever deal, increasing NewDay Partnership Funding 2020–1 by £100m and removing the Sofr-linked dollar tranche from the transaction.
30 Sep 2020
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