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◆ Gulf private placements bite back ◆ Bond new issue premiums rise ◆ CLOs catch a break
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade
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China raised a combined $6bn from a four tranche transaction on Wednesday, turning to US investors for the first time despite rising tensions between the two countries. It appeared a smart move, helping the bonds price well inside fair value. Morgan Davis reports. -
GAC-Sofinco priced a Rmb4bn ($564m) four-tranche auto loan asset-backed securitization (ABS) on Tuesday, venturing into the market despite rising onshore yields in a move that puts it ahead of an expected surge of supply in the last quarter of the year.
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China Evergrande Group’s stock price plummeted on Wednesday after the issuer slashed an overnight share sale to nearly half its initial target, raising HK$4.3bn ($554.9m).
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Malaysia’s Sunway Real Estate Investment Trust (Reit) has raised MR710m ($171.2m) from a follow-on offering of new stock.
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Shinhan Card Co ended a long hiatus from the dollar bond market on Tuesday as it joined a number of other South Korean borrowers which have turned to the debt market to raise Covid-19 relief funds.
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China Merchants Commerce Financial Leasing Co (CMC Leasing) made its debut in the dollar bond market on Tuesday, selling a $350m five year deal.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
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Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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