Citi
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The Democratic Socialist Republic of Sri Lanka has announced guidance for its second dollar bond this year in a week that could also see Pakistan make it first appearance since 2007. -
Lippo Karawaci extended its funding curve on Friday night by pricing an eight year offering that was set at a size of $150m by the issuer.
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Lippo Karawaci opened the books for its first dollar offering since January 2013 on Friday morning.
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China Merchants Bank printed its inaugural dim sum bond on Thursday night, issuing a Rmb1bn ($162m) three year issue that was more than five times subscribed.
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Industrial Bank of Korea is set to kick start marketing for a $300m global depositary receipts offering Monday, April 7, according to a banker close to the transaction.
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After finishing last year at the top of the CEEMEA bond bookrunner league tables, Deutsche Bank has slipped to eighth position in Dealogic’s ranking for the first quarter of this year.
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Huge oversubscriptions for borrowers ranked from single A to triple C helped LatAm to its second busiest week of bond supply all year, before any potential deals on Friday. LatAm investors had been starved of new deals in February and saw patchy new issue activity in March.
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Damac Real Estate Development's sukuk this week has blazed a trail for sub-investment grade borrowers as Middle East investors start to migrate down the credit spectrum.
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A trio of SSA issuers took to the dollar market this week to sell aggressively priced deals, filling gaps in supply at the front end and belly of the curve. However, while deals this week may have thrived at very tight levels, syndicate officials have warned that issuers may need to be more reasonable in the levels they demand in the near future.
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Banco Popular Español (BPE) issued the third Cédulas of 2014 and at €1bn, the issuer’s largest covered bond in three years. Though it was by no means the most attractive spread this year it was less than half the average of its previous three deals.
