China

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Commonwealth Bank of Australia added to the queue of high-grade issuers targeting Samurai bonds this week, marketing a five year fixed and floating rate deal via lead managers Daiwa SMBC, Nikko Citigroup and Nomura.

Industrial Bank of Korea, the government-owned small business lender, made its debut in the ringgit bond market yesterday (Thursday), pricing a deal worth M$600m ($188m) across two tranches.

South Korea’s Kookmin Bank is again marketing its first Samurai bond, resurrecting a deal that it cancelled at the end of January because of poor market conditions.

The Malaysian government has proposed plans to make it easier for foreign issuers to sell bonds in the domestic ringgit market.

China National Materials Group Corp, better known as Sinoma, is to become the first unlisted Chinese company to sell corporate bonds without a bank guarantee, according to the official China Securities Journal.

Shenzhen Development Bank, the Chinese lender part-owned by US private equity firm Newbridge Capital, has sold one of the country’s biggest subordinated bonds in a rare domestic mandate for an international arranger.

AmBank, the Malaysian lender, has yet to release formal price guidance for its S$200m ($144m) hybrid capital deal, a full two weeks after announcing the transaction to the market.

Two Korean issuers marketing debut ringgit bonds scaled back and repriced deals this week as market conditions weakened, market participants said.