Bank of America

Korea Land & Housing Corp opted for an innovative 3.25 year tenor for its new bond in a bid to offer investors a pick-up over recent three year paper from Korean SOEs and to stand out in a month that has seen record levels of issuance.

Korea Resources Corporation (KoRes) opened books for a five year transaction on Tuesday morning as the issuer looks to repay a project financing facility for a mining project in Mexico.

San Miguel Corporation’s Global Power Holdings opened books on a new hybrid bond on Tuesday morning, with guidance on the perpetual non call 5.5 bond set at 7.625% area. Bankers have indicated that the borrower is looking to do a benchmark size transaction.

China Cinda Asset Management is seeking its first dollar bond as it meets investors this week and next. It is the second Chinese bad debt management firm to hit the market after China Orient Asset Management issued $600m last September.

Coca-Cola Enterprises launched a small bond issue of €250m today that priced exceptionally tightly. That is not unusual for the issuer, but it was helped by the very slight issuance of euro corporate bonds for the past fortnight.

Nicholas Lee, managing director and head of syndicate for Asia equity capital markets at Bank of America Merrill Lynch, has left the firm to join an investor.

Korea Land & Housing is the latest Korean issuer to tap the international markets, launching guidance on a new bond on Monday morning.

Bankers announced comps for Lenovo’s debut dollar bond on April 28 as they continue investor meetings in Singapore. The issuer has already received strong indications of interest and is guiding investors to a five year transaction.

Tata Motors is meeting investors in Asia this week, and plans to issue a dollar bond from its subsidiary TML Holdings.

SingTel signed loans worth a chunky S$3.5bn ($2.8bn) via two separate facilities this week, in deals that saw a large number of banks piling in.

Asia’s top refiner China Petroleum & Chemical Corporation (Sinopec) has picked Bank of America Merrill Lynch, CICC, Citic Securities and Deutsche Bank to advise on the restructuring of its retail unit, the company announced on April 24.

National Bank of Greece bucked the typical route taken by peripheral banks with renewed access to the capital markets, starting with a covered bond or short maturity senior unsecured, to mark its return with a five year senior bond that it printed though the level that the Greek sovereign was trading. It's a deal that has market participants both trumpeting the peripheral recovery story and wondering: to what extent yield hunger is distorting decisions?