ANZ

A window for Kangaroo issuance opened this week, as a positive move in the Australian dollar/euro basis swap helped rouse a slumbering market that had not seen a deal for a fortnight. In spite of unstable conditions, SSAs entered the market on Monday and Tuesday, with a trio of regular borrowers tapping six lines for a combined A$575m ($364m).

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

Bank of Communications Financial Leasing Co (BoCom Leasing) found strong support from investors for its $800m dual-tranche floating-rate deal on Monday, thanks to its status as a defensive credit in a volatile market.

Chinese delivery services company SF Express is planning to repay a HK$5bn ($640m) loan sealed in September 2019 with the proceeds of a longer tenor bond issued last week.

China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) has launched a $300m deal into general syndication, marking its second attempt at tapping the loan market.

China Aoyuan Group and China Huarong Financial Leasing Co this week raised a combined $388m from bonds that will mature in less than one year, taking advantage of a regulatory loophole to tap the market with short-dated deals.

Industrial and Commercial Bank of China turned to the Australian debt market on Monday to raise A$500m ($336m) through its Sydney branch.

Fosun International has returned to the offshore loan market for a $650m refinancing that is being run by a large banking group at the top.

The World Bank on Tuesday brought a new five year Kauri bond — the largest since August — at a “pretty aggressive” level to its Australian dollar curve.

Emirates NBD Bank pulled in demand five times the size of its benchmark dollar bond on Monday, showing little sign of that wider market concerns about the coronavirus outbreak were having any effect on emerging market bonds.