DBS

Singaporean bank DBS Group came to the market with a tier two bond on Wednesday, opting for euros as it looked to open up new sources of debt capital.

A year after selling a $3.1bn-equivalent four-currency, six-tranche Belt and Road blockbuster, Bank of China is making a comeback with another Reg S only bond to support the initiative.

AerCap Holdings, the Dutch aircraft leasing company, found big demand from lenders for its four year revolver, with the size of the facility rising by 46% to $950m during syndication.

FIG bankers expect that primary market activity could be busy in early April, as borrowers look to navigate around blackout periods and public holidays later in the second quarter.

Adira Dinamika Multi Finance, an Indonesian finance company, has launched a $250m term loan into general syndication, about seven months after sealing its previous fundraising.

Chinese government-owned Shougang Group Co spotted an opening in the debt market on Wednesday to execute an opportunistic $500m trade. It opted for a short tenor to speed up the process, while also satisfying investors’ preference for shorter-dated notes.

China Grand Automotive Services Co and Poly Property Group raised $300m and $350m, respectively, on Tuesday, squeezing through a narrow window before the Hong Kong market closes for a four-day break.

China’s Zhengzhou Zhongrui Industrial Group has sold a two year bond, making the unusual move of tightening pricing after releasing guidance at a fixed level. The issuer raised a small $85m, but still outdid some of its peers.

Four Chinese issuers hit the market with new transactions on Monday, despite the credit market ending on a weak note last week. As the companies try to make use of their remaining fundraising quotas, the focus remains on new issue premiums.

Qualitas Medical Group is preparing to launch an IPO of around S$150m ($114.4m) on the Singapore Exchange, said a banker on the deal.

Personal computer maker Lenovo priced a $750m deal on Thursday as part of a liability management exercise, switching some investors out of an old bond that will mature next year. But like others in the market, the borrower had to pay a double-digit new issue premium to ensure success.

Shandong Iron & Steel Group Co and a Chinese government-owned entity from Xuzhou both took a cautious approach to their dollar bonds on Thursday in a market that has become increasingly volatile.