Citi

Sasseur Reit will put off launching its S$500m ($366m) IPO in Singapore until early next year, according to bankers close to the matter.

The Islamic Republic of Pakistan opened its dollar-denominated sukuk and conventional bonds for bids on Wednesday, just days after the country’s government was forced to bring in the army to tackle protests in the capital.

Tech giant Alibaba Group Holding is taking bids for a five-tranche transaction, putting its focus on the longer end of the curve. Hopes are high for yet another impressive deal from the Chinese firm, which last stunned the market in 2014 with the largest G3 bond on record from Asia ex-Japan.

The State of North Rhine-Westphalia launched a €2bn benchmark on Tuesday, printing with what leads said was zero new issue concession as the market prepares to shut down for year end.

Emirates Sembcorp Water & Power has opened books on its $400m amortising note. Some market participants say the move signals the next phase of GCC fiscal rebalancing as governments look to offload fully operational infrastructure projects onto international investors, though others are sceptical that the trend will really take off.

China Construction Bank Corp and Bank of Communications Co snapped up investors on Monday when they offered up multiple tranches of floating rate dollar bonds through their Hong Kong branches.

Punjab National Bank is selling a 6% stake in PNB Housing Finance worth Rp13.3bn ($206.3m) through the offer-for-sale method.

The surge in dollar bond issuance from Asia ex-Japan continued unabated at the tail end of last week, with three issuers selling $1.1bn of deals on Friday.

Bank of Communications Co’s Hong Kong branch is in the market with a two-part floating rate transaction, going head to head with peer China Construction Bank, which is also taking bids for a new bond.

China’s Alibaba Group Holding, which wowed the debt market three years ago with the largest G3 bond on record from Asia ex-Japan, is preparing for a comeback, mandating banks for its upcoming dollar outing.

China Construction Bank Corp launched a triple-tranche dollar deal on Monday through its Hong Kong branch.

Dividend recapitalisation deals, such as the ones ChemicaInvest and Ten Cate launched this week, are on the rise. The move, considered aggressive by leveraged loan investors, is nevertheless becoming more common and accepted in the present issuer’s market.