Bank of China
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Bond investors woke up to a pair of investment grade Asian issuers on Wednesday with the government of Malaysia seeking bids for a dual-tranche wakala sukuk and BoC Aviation looking to close a conventional 10 year. -
Bond investors had little concern on buying Yunnan Provincial Energy Investment Group’s tightly priced debut bond this week, despite the structure of the notes being weaker than the one sold by parent Yunnan Provincial Investment Holdings Group (YIG) last month.
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Yunnan Provincial Energy Investment Group is on track for its first dollar bond while the Export-Import Bank of China (Chexim) has opted for a dual-currency, triple-tranche offering for its return.
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Hong Kong-listed Samsonite International has wrapped up syndication of a $2.425bn loan for its acquisition of premium luggage maker Tumi.
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The Export-Import Bank of China is poised to return to the offshore bond market this week, lining up banks to hold investor calls for a dual-currency, triple-tranche offering.
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Standard Bank of South Africa has grown its loan from $600m to $1bn in syndication, largely driven by demand from the four Chinese lenders in lead roles.
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Malaysia's Maybank has priced its latest $400m five year bullet loan tightly at 95bp over dollar Libor, launching the deal into general syndication last week.
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The securitization of non-performing loans by Chinese banks is gaining plenty of traction as they are set to achieve off-balance sheet accounting treatment — one of the major hurdles for the development of the asset class.
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Yunnan Provincial Energy Investment Group is looking to issue its first dollar bond and has hired banks to set up investor meetings.
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Vitol-KazMunaiGas has received more than $3.5bn in commitments from lenders for its prepayment facility loan.
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Maybank opened its $400m five year bullet loan to retail participation on Thursday after expanding the mandated lead arranger and bookrunner group.
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The Asian primary dollar bond market had a strong start to the week with four deals hitting investors’ desks on the same day. The activity has boosted hopes for a robust second quarter following a subdued first three months that saw Chinese volumes plummet, writes Narae Kim.
