Bank of America

International Container Terminal Services (ICTSI) provided a breath of fresh air to Asia’s bond market with its $450m perpetual deal. The lack of issuance this year from Philippine borrowers worked in the company’s favour, but SMC Global Power Holdings Corp’s quick follow-up had to endure a turn of sentiment in the market.

The dollar market for SSAs kept up this week’s sizzling form on Wednesday, as another issuer mandated for a benchmark — bringing the total for what is historically a quiet week to four deals.

James Sadler has joined Bank of America Merill Lynch as head of Middle East and North Africa debt capital markets coverage. He is also responsible for South African financial institutions DCM.

A pair of public sector borrowers — including a super rare issuer in dollars — have nipped in ahead of a data laden September to bring deals this week, following the lead of Denmark’s KommuneKredit.

SSA issuers coming in dollars before the next US payroll data release on September 4 are likely to take a conservative approach — a route already taken by two borrowers this week.

Hong Kong-listed Chong Hing Bank is bringing a rights issue to investors as it seeks to bolster its capital position. The lender plans to issue one rights share for every two existing shares, which will raise HK$3.71bn ($478.64m).

The collapse of Afren, the once-proud London-listed oil exploration and production company with three bond issues to its name, is a shocking reminder of the risks investors face in emerging markets, and of how even some of the most sophisticated players in financial markets can get things drastically wrong.

FMS-Wertmanagement, the German wind-up agency, nipped in to print a four year floating rate note on Thursday.

San Miguel Corporation’s SMC Global Power Holdings Corp has mandated eight banks as the company hopes to return to the dollar bond market with perpetual subordinated notes.

US Reit Medical Properties on Wednesday sold its €500m unsecured bond drawing attention from investment and non-investment grade buyers by being the only corporate issue of the day.

Bank of America Merrill Lynch has lost another CEEMEA DCM banker.

A $550m borrowing for Bank Rakyat Indonesia’s (BRI), which is due to be prefunded by a club of 11 banks, is expected to go into general syndication. Lenders are waiting for Bank Indonesia approval and are targeting signing by the end of August, with the first drawdown in the first week of September.