Citi

Oil rig maker Honghua Group made its inaugural issue in international markets on Thursday, September 18. Having opted for the Reg S /144A format to tap into the US investor base, the Chinese company pulled in an impressive $1.4bn order book for the $200m five year non call paper.

Thailand’s equity market looks set for a busy few months, with Bangkok Airways Public Company starting to pre-market an IPO that could raise up to $500m. At that size the deal would be one of the largest listings yet in the country.

Reliance Jio Infocomm, the telecoms subsidiary of Indian conglomerate Reliance Industries, opened its $1.5bn dual facility refinancing loan for general syndication on September 19, with a mandated lead arranger and bookrunner group of 15 banks.

Japanese brewer Suntory Holdings left a solid footprint in the dollar market with its inaugural issue on Wednesday. With books for the RegS/144A $1bn dual tranche issue already covered during Asia trading hours, dealers proceeded to push final pricing 20bp tighter than where investor feedback came in.

China’s Geely Automotive Holdings sold its inaugural international bond on Wednesday. Although the five year non call three dollar issue was more than seven times subscribed, the borrower stuck to a small size to in order to achieve tight pricing.

Investors expect retailer Puerto de Liverpool to continue Mexican issuers’ good run in the bond markets after the company indicated initial price thoughts of 150bp-175bp over US Treasuries for a debut 10 year bond.

Burgan Bank priced its debut additional tier one (AT1) bond in what bankers on the deal said were challenging conditions on Tuesday. While the point of non-viability (PONV) premium is up for debate, bankers away from the deal said that the deal looked to have been priced fairly.

Synthos SA, a leading manufacturer of chemical raw materials in Central and Eastern Europe, is out with guidance for a euro-denominated bond after wrapping up investor meetings on Monday.

China’s Geely Automotive Holdings opened books for its inaugural international issue on Wednesday. The car maker is offering a Reg S/144A five year non call three dollar bond.

Bank of Communications (BoCom) opened books to a US dollars and euro denominated tier two bond on September 24. If successful, BoCom will become the first Chinese lender to issue an offshore Basel III-compliant tier two instrument without the use of an overseas entity.

Zhejiang Provincial Energy (ZPE) sold the first ever dollar bond from a provincial level Chinese state owned enterprise on Tuesday, September 23. Buoyed by ZPE’s credit strength and Zhejiang province’s strong fiscal position, the three year issue was a hit among investors and sets a solid foundation for the emergence of similar credits in the dollar market.

Southeast Asia’s largest e-payment firm MOL Global is set to become the first Malaysian company to list in the US, opening books on September 24 for a Nasdaq IPO of $283m.