Citi

Energo Pro, a hydro power plant operator and electricity distributor in Bulgaria, Georgia and Turkey, finished its roadshow in Wednesday and is planning to bring a euro-denominated bond as early as Friday.

Chinese oil and natural gas producer CNOOC jumped into the bond market on Wednesday for a dual-tranche deal, raising $1.45bn.

The Singapore equity capital market was hit by some unpleasant news this week when a pair of IPOs were shelved in quick succession. The move drew mixed responses from bankers, with one saying it highlights the city’s dwindling appeal as a listings hub, and others promising a busy year ahead for equity raising. John Loh reports.

Fiat India Automobiles, the India-based wholly-owned subsidiary of Italy’s FCA Group, has cut the price of a $250m old project loan by converting it into a corporate finance deal.

Chinese technology giant Huawei postponed its debut euro bond late on Wednesday after final terms had been released, following news of a US investigation into whether the company had violated sanctions against Iran. While Huawei had enough support to go ahead with its transaction, it put the deal on the back burner to maintain its standing with investors, said bankers. Morgan Davis reports.

The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.

Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before.

Mapletree Greater China Commercial Trust Management has raised S$330.3m ($248.8m) after selling a block of new units to help fund the purchase of Japanese assets.

Chinese technology equipment company Hauwai dropped a planned dollar tranche on its latest visit to the corporate bond marker and chose to issue its first bond in euros. This did, however, mean the company opted for a five year maturity, rather than the 10 year tenor it had marketed for the dollar bond.

State Grid Corporation of China priced a $2.8bn-equivalent four-tranche deal on Tuesday, managing to navigate the impact of the benchmark 10 year US Treasury yields finally breaching 3% after days of sell-off.

Leads set price ranges in two African IPOs this week, which are coming to market against a backdrop of rising investor interest in Africa.

A repricing in the Indonesian high yield dollar bond market on Monday took a toll on property company Bumi Serpong Damai (BSD), which had to navigate numerous hurdles to push a $250m deal over the finish line.