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Most recent
Like many senior sukuk from the Gulf, local investors will drive demand
◆ Weaker backdrop for FIG issuance ◆ Deal printed with a negligible spread above previous, shorter bond ◆ Nearly triple digit spread lures investors
◆ Rising investor sensitivity due to tight unsecured FIG spreads ◆ Deal centred around real money orders after hitting €4.5bn peak book ◆ Hardly any concession left on shorter tranche, minimal on longer one
Despite the boost in demand, overall unsecured supply still lags behind 2025, with the bulk of recent supply coming in covered bonds
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China Minsheng Banking Corp sealed a fixed-floating combination bond on Thursday, with the help of a 19-strong syndicate. -
Siam Commercial Bank closed its second dollar deal of the year on Thursday, leveraging on its rarity value as a Thai credit in the debt market, while also navigating a surprise hiccup near the end of bookbuilding.
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Thailand’s Kasikornbank has mandated banks for a planned dollar bond, to be issued through its Hong Kong branch.
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Barclays sold its first green bond transaction this week — a callable senior deal from its holding company — as two more financial institutions said that they would hit the road with new green bond frameworks of their own.
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Chinese issuers are starting to look beyond US dollars for new fundraising opportunities, with attractive cross-currency swap rates — and the potential for diversification — making Singapore dollars and euro issuance the flavour of the month. Morgan Davis reports.
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ICBC Financial Leasing Co raised $950m from a dual-tranche transaction on Wednesday, as it focused on extending its maturity profile. But its 10 year struggled to gain traction, against a backdrop of falling 10 year US Treasury yields.
