Citi
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State Grid Corporation of China returned to the market with a multibillion triple-tranche transaction on Monday morning. But despite nearly $10bn having already been absorbed by issues from other major Chinese state owned enterprises this month, bankers said there is still room for State Grid to do a jumbo deal.
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Turkish bank Finansbank, 77.23% owned by the National Bank of Greece, launched its $500m RegS /144A five year bond at 6.375% on Friday morning in London, with pricing expected at the US open.
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Banglalink, the Bangladeshi telecoms company, looks set to finally price the debut international bond from the country more than one week after it came out with initial guidance on April 16.
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Allocations are out for Indonesian company Adira Dinamika Multi Finance’s loan of $300m, which has increased by $100m after strong demand in syndication.
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Times Property Holdings reopened its debut dollar bond on Thursday after receiving strong anchor orders. Despite recent negative headlines surrounding the Chinese property sector, investors took a keen interest in the offering, allowing the issuer to quickly close the deal and even increase the deal.
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SingTel signed loans worth a chunky S$3.5bn ($2.8bn) via two separate facilities this week, in deals that saw a large number of banks piling in.
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China Overseas Land and Investment will be on the road this week and next with a proposed dollar issue. It will be the second transaction for the issuer this year, following a $400m bond in January.
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A global-local currency bond proved to be one ambitious step too far for a hot LatAm market on Thursday as the Dominican Republic failed to garner enough interest to sell a Dominican peso-denominated bond. But bankers away from the deal praised the sovereign’s first 30 year issue as strong liquidity continues to support high yield issuers.
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National Bank of Greece bucked the typical route taken by peripheral banks with renewed access to the capital markets, starting with a covered bond or short maturity senior unsecured, to mark its return with a five year senior bond that it printed though the level that the Greek sovereign was trading. It's a deal that has market participants both trumpeting the peripheral recovery story and wondering: to what extent yield hunger is distorting decisions?
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Arion Banki's planned euro bond sale — the first such deal from an Icelandic institution since the credit crisis — has got market participants speculating where the deal will price, with some arguing that demanding UK investors will push the spread to 350bp over mid-swaps.
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In contrast to their evaporating taste for Russian risk, banks’ buoyant appetite for central and eastern European names was underlined this week as Energeticky a Prumyslovy Holding (EPH) launched its largest syndicated loan, writes Michael Turner.
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Auckland Council is eyeing the European private placement market as it plans to increase its offshore issuance in its next fiscal year, a funding official told GlobalCapital.