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Emerging Markets

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Cost of printing a five year bond has fallen a long way since October
The bank is considering bond issuance in currencies other than the euro
◆ Intesa Sanpaolo's Slovakian arm is a frequent issuer ◆ Banker said 33bp could be through FV ◆ CEE covereds offer the widest spread, ABN wrote

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  • CSC Financial Co, better known as China Securities, raised $500m from the international bond market this week ─ generating an order book more than 12 times the size of the deal at its peak.
  • India’s Adani Ports and Special Economic Zone proved its willingness to be flexible this week, changing its planned tenor and offering a decent concession to secure demand for a $750m bond.
  • Country Garden Holdings Co, one of the biggest Chinese high yield property borrowers, returned to the bond market with a dual tranche deal on Tuesday, raising a combined $1bn from the transaction.
  • Chinese property and construction firm Jiangsu Zhongnan Construction Group Co raised $200m from a sub-one year bond deal on Tuesday
  • Singaporean property company UOL Group has raised a $120m green loan that will help fund the transformation of one of its hotels into a green building.
  • Chinese electric vehicle maker Li Auto has brought forward the close and pricing of its up to $950m Nasdaq listing after securing heavy demand for the deal.