ANZ

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.

The Australian Prudential Regulation Authority has taken a very different approach from the rest of the world with its total loss-absorbing capacity (TLAC) rules, proposing that banks meet these new capital requirements with tier two rather than any new form of bail-inable senior debt.

Bank Rakyat Indonesia has mandated 13 banks for a $700m multi-tranche borrowing, breaking a three-year absence from the loan syndications market.

Shanghai Pharmaceutical Holding is raising a $655m dual-tranche facility to refinance a bridge loan that was used to support the acquisition of Cardinal Health (L).

Hong Kong-listed China Water Affairs Group is paying 10bp less for a new $200m borrowing versus a similar transaction sealed earlier this year.