Citi

Rating: Aa1/AA+

SK E&S, a South Korean energy company, has raised HK$11.55bn ($1.49bn) by selling most of its shares in China Gas Holdings near the top of the marketed range.

Citi has announced a host of country-specific relief measures for some of its Asia Pacific clients impacted by the Covid-19 pandemic, including fee waivers for loan extensions and the option to restructure borrowings.

High quality Yankee issuers showed their spirit of adventure by printing front-end trades this week, returning to a part of the curve that has been starved of supply since the start of the coronavirus crisis.

Rating: Aaa/AAA

US banks this week reported stellar returns from trading and underwriting in the first quarter, even as the bottom line was hit by gigantic writedowns and reserves for credit losses, as the economic and financial disruption from the coronavirus crisis took its toll.

Saudi Arabia followed neighbours Abu Dhabi and Qatar to the international bond markets on Wednesday, achieving a $7bn deal that was nearly eight times subscribed.

World Bank made the most of the recovery in market conditions to print the largest ever SSA dollar benchmark on Wednesday, raising $8bn.

South Korean energy company SK E&S has launched a block sale of up to HK$11.8bn ($1.52bn) in China Gas Holdings, according to a term sheet seen by GlobalCapital Asia.

Petroliam Nasional (Petronas) stunned the bond market this week with a $6bn deal that received $37bn of orders at its peak. The Malaysian oil and gas company had to navigate volatile oil prices, a ratings outlook change and the Covid-19 pandemic, writes Morgan Davis.

US banks ramped up reserves for credit losses, expanded credit lines and enjoyed bumper trading and debt underwriting volumes in the first quarter, according to results released on Tuesday and Wednesday.

Greece did not attract the huge reception from investors that it has grown used to over the last few years, despite paying a considerable new issue premium and being eligible for the European Central Bank’s Pandemic Emergency Purchase Programme (PEPP).