Asia Pacific
-
Singaporean shipping company Neptune Orient Lines raised S$300m ($243.7m) in its domestic bond market this week, returning to investors with the same 10 year non-call five structure that it used to raise money last year.
-
China National Cereals, Oils and Foodstuffs Corp (Cofco) made its debut in the dim sum bond market last week, raising Rmb3bn ($462m) after struggling to strike a balance between price and size.
-
Hong Kong’s offshore renminbi bond market is growing at a rapid pace and several issuers have rushed to tap the market over the last few weeks. They could now get the benefit of a useful pricing benchmark: the Chinese government is considering returning to the market.
-
Far East Horizon, the financial leasing unit of Sinochem Group, proved there is strong demand available even for some unrated credits in the dim sum bond market, when it sold a Rmb1.25bn ($192.5m) three year bond last week.
-
Morgan Stanley made its dim sum bond market debut last week, becoming the first US bank to test the growing investor base when it sold a Rmb500m ($77m) issue. It plans to keep the money outside of mainland China.
-
Frozen seafood company Pacific Andes International Holdings raised Rmb600m ($92.4m) last week, selling its debut offshore renminbi bond four months after it scrapped a previous attempt.
-
Ping An Group completed its first offshore renminbi market deal this week, raising Rmb2bn ($308.4m) from a deal that generated Rmb6bn of demand.
-
Morgan Stanley made its debut in the dim sum bond market last week, becoming the first US bank to test the growing investor base when it sold a Rmb500m ($77m) issue. It plans to keep the money outside of mainland China.
-
Far East Horizon, the financial leasing unit of Sinochem Group, proved there is strong demand available even for some unrated credits in the dim sum bond market, when it sold a Rmb1.25bn ($192.5m) three year bond last week.
-
A flurry of FIG Samurai deals is set to price within the next fortnight, as international issuers fill the gap left by inactive domestic borrowers. Rabobank’s deal will price on Friday, Commonwealth Bank of Australia’s at the start of June, and Lloyds will price an issue on June 10.