Citi

Budweiser Brewing Co Apac was set to price its multi-billion-dollar Hong Kong IPO at the bottom of guidance on Thursday, according to a banker on the deal.

Indonesian state-owned Perusahaan Listrik Negara (PLN) sold $1.4bn of bonds this week, split equally between 10 year and 30 year tranches, pricing both slightly inside fair value.

DP World has updated price guidance for its new 10 year benchmark sukuk and $200m tap of its 2048s, with order books already a healthy size for both deals.

The initial guidance for the Reg S/144A deal was put out at 6.875% area on Wednesday morning in London.

Chinese real estate companies Logan Property Holdings Co and Times China Holdings managed to aggressively tighten a pair of $400m four year callable bonds this week.

After raising Rmb5.5bn ($799m) from its largest auto loan ABS deal in March, BMW’s Chinese auto finance arm is returning for more. The planned Rmb8bn deal will hit the market on July 16.

Citi has appointed James Teo as head of natural resources investment banking for Asia, according to a memo seen by GlobalCapital Asia.

Korea Gas Corp (KoGas) became the first South Korean corporate to sell 10 year sustainability bonds on Tuesday, raising $500m. The country’s issuers are leading the way across Asia in selling environmental, social and governance debt.

Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week, a banker said. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, and Export Development Canada and Erste Abwicklungsanstalt are set to follow.

The UK Debt Management Office (DMO) issued its 60th syndicated bond on Tuesday and signalled a “smooth” start to the second quarter of its 2019–20 financial year, as it printed an inflation-linked tap that was eight times oversubscribed.

Investors piled into euro trades from Italy and the European Financial Stability Facility on Tuesday, with around €25.5bn of demand for the names as more issuers line up.

DP World is embarking on a roadshow to market a new 10 year benchmark Reg S dollar sukuk. It is also considering long dated Reg S-only dollar funding.