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A double digit premium to the dollar curve lured in overseas buyers, who took a 'large chunk' of the bonds
Investors have lots of cash and are eager for new issuance
Investors are keen for new bonds and better rated borrowers may not want to issue in numbers
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The Republic of Turkey hit screens on Tuesday with a dollar bond issue, which took some investors by surprise. Though Turkey may have had a rocky few months with credit downgrades and currency depreciation, the bond is expected to be received well by investors.
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Woori Bank is set to make its Kangaroo bond debut, seeking to tap the Australian dollar market to fund its coronavirus response.
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State-owned Kuwait Petroleum Company has raised a syndicated loan from local lenders worth $3.27bn equivalent. The deal is one of the few major financings to take place in the Middle East during the coronavirus pandemic, and comes at a time when Kuwait faces critical economic challenges.
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Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.
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Mr DIY Group has kicked off the roadshow for its MR1.5bn ($362.7m) IPO, set to be Malaysia’s largest listing in over three years.
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The share price of Doosan Fuel Cell Co, a subsidiary of South Korean conglomerate Doosan Group, nosedived on Tuesday after affiliates of the parent raised a smaller-than-expected W198.6bn ($171.1m) from a block trade.
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