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Emerging Markets

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Six Middle Eastern and Asian banks are bookrunners on DAE's first loan since completing acquisition of Macquarie AirFinance
Africa’s largest IPO backed by Africa-focused Pan-African Refinery Investment after agreeing to $1bn underwriting programme
Treasury yields and oil continue to rise

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  • HDB Financial Services, an Indian non-banking financial company under HDFC Bank, has launched its maiden $300m international loan into syndication.
  • Zhejiang Geely Holding Group, a Chinese developer and seller of vehicles, has closed its third offshore loan of the year, raising €400m from a group of eight lenders.
  • The Asian Infrastructure Investment Bank (AIIB) and Singapore’s Clifford Capital have launched a new infrastructure debt financing platform that will remove some of the pressure on banks financing projects. It will also position Singapore as the leader in a sector that desperately needs private funds, writes Morgan Davis.
  • I recently went to Beijing to catch up with a young friend who works at a large Chinese state-owned bank.
  • Chinese car manufacturer Geely Automobile Holdings came out with its first perpetual deal this week, raising $500m while paying a small premium over its outstanding senior bond.
  • China Construction Bank, the largest originator of Chinese RMBS, wrapped up a Rmb11.52bn ($1.64bn) four tranche deal on Wednesday. It was just the latest of a regular series of mortgage-backed deals from the bank — but this time, it doubled-down on marketing to foreign investors.