Citi
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DP World on Thursday launched a new $1bn 10 year sukuk and $300m tap of its $1bn 5.625% September 2048s, both with negative new issue premiums. -
Last week’s tightly priced bond issue by KfW has inspired a slew of issuers to print three year dollar notes this week. The Asian Development Bank was first off the blocks on Tuesday with a new benchmark, while a tight Export Development Canada trade followed the next day.
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The International Finance Corp (IFC) started its 2019/20 funding year on Tuesday with a pair of Swedish krona green bond taps in the private market.
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The Republic of Tunisia printed a tight €700m 6.375% 2026 bond on Wednesday from a book of nearly €2bn. A syndicate manager away from the deal said it was a good demonstration of the enthusiasm for emerging market credit.
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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.
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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.
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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.
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The initial guidance for the Reg S/144A deal was put out at 6.875% area on Wednesday morning in London.
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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.
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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.
