ANZ

The Republic of Indonesia managed to raise $3bn across three tranches of notes in its annual dollar funding exercise, but paid a double-digit premium to attract investors cautious about the sovereign credit.

Thai hotel operator Minor International had to get creative with its debut $300m bond, owing to its lack of rating and inaugural status. It looked abroad for inspiration, ultimately opting for a South Korean-inspired structure. Morgan Davis reports.

Mercuria Energy Group bagged a bigger-than-expected $1.35bn from its latest annual revolver in Asia, after 36 banks joined the deal.

ANZ is relocating a senior leveraged and acquisition finance banker and former head of Asia loan syndications from Singapore to Sydney.

With covered bond spreads likely to go wider, ANZ’s decision to take as much size from the market as possible was logical. The short and rare four year tenor was instrumental in boosting appeal for the bond issue, but it also helped that the issuer took the trouble to engage with investors with a roadshow beforehand.

Thai Oil Public Co navigated challenges around fluctuating oil prices to push out a $1bn dual-tranche bond on Thursday that was strongly supported by investors.

Beijing Enterprises Group and Youyuan International Holdings hit the loan market this week for their latest syndicated fundraisings.

State Power Investment Corp’s $500m senior perpetual bond attracted plenty of demand in both the primary and secondary markets, despite coming with a structure that has fallen out of investor favour for much of 2018.

Beijing Enterprises Group is in the market for a HK$4.5bn ($575m) five year term loan launched through eight banks.

Emirates NBD is set to return to the dollar market, picking banks for a five year benchmark. The trade will be joined in the market by a dollar bond from UAE-based private healthcare provider.

Hong Kong-listed Man Wah Holdings and China Water Affairs Group are seeking offshore loans of $100m and $200m respectively.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.