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Despite rough market conditions and angst over rates, array of deals have been well taken
It is difficult to see issuance conditions growing much better in the foreseeable future
Trade follows a private placement the bank made after the US-Iran war started
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Bank of China-backed BOC Aviation executed a nimble Reg S only trade on Thursday, snapping up $300m. With the deal, the issuer managed to compress its curve, and is now trading more than 10bp inside its stronger regional leasing peers and as much as 30bp tighter than some others. -
Hong Kong-based insurer FWD sealed a $200m subordinated perpetual note on Thursday, but the trade lacked the kind of demand received for a similar deal last year.
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Trans Maldivian Airways has landed back in the Asian loan market for a $305m senior secured deal, following its acquisition by a consortium led by Bain Capital Private Equity at the end of last year.
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Bangkok Bank has sold a chunk of its stock in Jasmine Broadband Internet Infrastructure Fund, raising Bt4.4bn ($140.7m) after boosting the size of the trade.
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Cifi Holdings raised HK$2.79bn ($356.7m) in short-term financing with the sale of a sub-one year convertible bond, priced at the tight end of guidance on Thursday evening.
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Ronshine China Holdings sold a three year puttable bond at a 9% handle on Thursday, in a deal catering to reverse enquiry demand. But the issuer’s challenges are far from over, with high leverage, tight liquidity and ballooning refinancing needs putting pressure.
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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