Citi

Turkiye Finans has released guidance on its five year sukuk transaction after receiving over $750m in orders for a bond expected to be $500m in size. But some market participants away from the deal felt the amount of interest received so far signalled a "sluggish" bookbuild.

Dim sum issuance looks to be ramping up again after the Crimea crisis and noises around defaults in China led to the market drying up towards the end of March. ICBC and Guosen Securities both announced new bonds this morning.

Bank of East Asia priced its first senior bond on Monday. Strong investor demand for Hong Kong’s largest independent local bank meant that the issuer was able to price flat to recent senior bonds from China Construction Bank (Asia) despite the softer markets in the US.

KT Corporation made a solid landing with its first fixed rate dual tranche transaction on Tuesday night. The issuer printed $1bn and was able to price inside its existing curve despite a less than ideal market backdrop.

Iceland’s Arion Banki is planning to sell the country’s first benchmark euro bond from an Icelandic bank since the crisis, after Allied Irish Banks and Intesa Sanpaolo last week sold benchmark five year transactions that stirred up expectations that other peripheral banks were looking to come to market with longer dated paper.

Turkiye Finans will look to issue $500m of five year sukuk on Tuesday, said investors, with pricing for the notes expected to come around 375bp over z-spread by at least one investor.

International Bank of Azerbaijan has signed a $160m oversubscribed one year refinancing loan, as lenders try to encourage more Azeri banks to come to the loan market.

Dollar regular KT Corporation launched a dual tranche bond on Monday after getting a solid response from investors during its recent roadshow. Although it is the third time that the Korean telecommunications company is selling a dual tranche deal, the new issue will be its first to comprise fixed rate notes.

Bank of East Asia is returning to dollar market for the first time since October 2011 with a three year bond that launched on Monday. The issue has been met with a positive response despite a softer market.

Industrial Bank of Korea priced its $300m global depositary receipt offering almost a week before schedule, on the evening of April 11, as reverse interest was already sufficient to cover the trade.

Korean technology and pharmaceutical company Hanwha Chemical started its roadshow for a global depository receipt trade of up to $395m, following hot on the heels of a GDR trade for Industrial Bank of Korea.

Turkish Bank Garanti Bank gathered a $5.5bn book for its $750m October 2019s on Thursday and used the demand to price the note flat to its curve.