Bank of America

Appetite for Korea Resources Corp’s offshore outing on Monday was strong despite Moody’s recent decision to review its rating for a downgrade. Not only was the issuer able to increase the bond’s size to $500m but it also found a high quality order book.

China’s plans to reduce the pressure on its financial sector by pushing banks to securitize non-performing loans (NPLs) is plausible. But several conditions will first have to be met for the product to take off, according to Bank of America Merrill Lynch’s head of international structured finance research Alexander Batchvarov.

Bank of China Aviation is poised to meet investors ahead of its 144A return that could hit the market as early as next week, while HK Electric has mandated banks for Reg S notes.

South Korea’s Kia Motors Corp has started taking orders for a 144A/Reg S deal, which is split between a five year and a 10 year tranche.

L-Bank and the African Development Bank are set to be the latest issuers this week to take advantage of rising short end dollar swap spreads, mandating for deals on Wednesday after Finland printed a short dated deal of its own.

Nomura’s restructuring of its overseas activities has led to several senior directors in leveraged finance in both the US and Europe leaving the bank this week.

Only domestic banks joined Borusan Holding’s $400m loan in syndication, although lead banks had hoped the deal would entice a global syndicate.

PNB Housing Finance has made changes to the bank group leading its $400m Indian IPO, bringing in Bank of America Merrill Lynch to replace Barclays as a lead manager, according to a source close to the trade.

Korea Resources Corp (KoRes) managed to brush away concerns about Moody’s decision to review its rating for a downgrade, raising more than expected from its latest bond outing. The deal’s high quality order book stood out when compared with some other recent transactions from peers.

Bank Nederlandse Gemeenten, FMO, Japan Bank for International Cooperation and the Province of Quebec all hit screens on Monday for forthcoming dollar deals, with bankers remarking that the SSA market could be set for another hectic week.

South Africa’s Investec Bank expanded the syndicate for its latest loan from 17-20 banks, including two Chinese lenders.

Korea Resources Corp (KoRes) is poised for its first appearance of the year in the international bond market, opening books on Monday for a Reg S dollar offering.