Banks
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The Bank of East Asia returned to the market with a Basel III-compliant additional tier one (AT1) deal, paying no premium despite reporting disappointing interim results for the first half of 2019 and amid the turmoil in Hong Kong SAR. -
Warehouse construction form and lessor ESR Cayman has revived plans to list in Hong Kong, three months after pulling a possible billion dollar IPO mid-roadshow.
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Kenny Chan, head of syndicated finance and corporate advisory at Hang Seng Bank, has left the lender, according to sources.
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Indonesian state-owned power company PLN has diversified its funding sources. It debuted in the Samurai market, raising ¥23.2bn ($215m) from three bonds while paying a small premium over its outstanding dollar curve.
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AllHome Corp has gone live with its IPO in the Philippines, as it works with a five-strong syndicate to raise up to Ps15.8bn ($304.2m) from a mixed primary and secondary share offering.
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State Bank of India is looking to raise at least Rp26.95bn ($378m) from a stake sale in SBI Life Insurance Co, receiving a flood of early demand.
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Alpek, the petrochemicals business of Mexican conglomerate Grupo Alfa, sold a $500m 10 year bond on Wednesday at the tight end of expectations to become the latest in a line of Mexican issuers to tap the primary market in September.
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The breakneck speed of dollar corporate bond issuance continued this week, with lower rated investment grade borrowers dominating investors' attention as they came to the market to lock in attractive financing rates amid fears the credit rally may run out of steam.
