Banks

A mix of Chinese policy banks, hospital builders and pharmaceuticals companies have put the domestic bond market to use to combat the coronavirus outbreak as the death toll nears 600. More mainland issuers are also readying deals as the country’s regulators introduce a faster registration process for such issuance, write Addison Gong and Rebecca Feng.

Investors rushed to Indian company Adani Electricity Mumbai's (AEML) bond on Wednesday, flooding the $1bn deal with orders that reached more than $6bn at their peak.

Central China Real Estate manoeuvred its way around China’s offshore bond issuance regulations on Wednesday by marketing a sub-one year note. The deal made Central China the first mainland property company to sell a bond in the wake of the coronavirus volatility.

Emirates Global Aluminium (EGA) has raised a $600m syndicated facility, which replaces a number of uncommitted bilateral loans.

Sixteen banks led Baa2/BBB rated Huatai Securities Co's $400m floating rate transaction on Wednesday.

VodafoneZiggo has sold a €1.36bn holding company refinancing, seizing the chance to lock in tightly priced subordinated debt for a decade. The company offered euros and dollars in 10 year unsecured format, with five year call protection.

Bahraini iron pellet producer Bahrain Steel is in discussions with lenders to refinance an existing facility, according to bankers. The deal, some say, is part of a broader trend among emerging market borrowers seeking to secure more attractive conditions.

The Export-Import Bank of Korea (Kexim) raised $500m from a five year bond on Wednesday, becoming one of the first borrowers to reopen the dollar market after Chinese New Year and the rapid spread of a new virus.

Gerald Keefe, Citi’s head of Asia Pacific corporate banking, is relocating to New York for a new senior position in the bank’s treasury and trade solutions (TTS) team.

Chinese hotel company Huazhu Group, previously known as China Lodging Group, has closed its borrowing of about $1bn with 13 banks.

Stephen Moss and Nuno Matos have been given new roles of responsibility for Europe at HSBC, ahead of expected restructuring of the group in that region, particularly in global banking and markets (GBM).

AusNet Services Holdings, the holding company of Australian energy company AusNet Services, has mandated banks for a potential euro benchmark bond, as the euro continues to attract foreign issuers.