HSBC

Astra Sedaya Finance (ASF) is targeting Taiwanese bank liquidity for its latest syndicated loan, a $90m amortiser helmed by three banks.

Gates Global, the US power transmission belt maker, rescheduled commitments for a euro term loan add-on to Thursday, after increasing it by nearly €200m from around €275m. The move came in a week when JP Morgan analysts and others voiced concern about risks in the leveraged finance market.

Qatari residential property developer Ezdan managed to recover its credibility as a sukuk issuer on Wednesday, printing a $500m 2022 at a reasonable spread, after what one EM syndicate banker referred to as its “shambles” of a debut in May.

Credit Bank of Moscow reopened the new style tier two market for Russian issuers in style on Wednesday with a $600m deal that was five times subscribed.

Indonesia Eximbank and State Bank of India launched new dollar deals on Thursday, in a busy Asian debt market ahead of a holiday-filled April.

Issuers from Greater China are dominating the dollar debt market, as they vie for investor attention on Thursday alongside a couple of south and southeast Asian names.

CPPIB Capital is looking to step across the Atlantic into euros, selecting four banks to roadshow its euro debut. Elsewhere, the European Financial Stability Facility (EFSF) sent out its first request for proposals for the second quarter.

French cable manufacturer Nexans launched a €200m bond on Wednesday, bringing back the bookrunners on a bond sale it had to cancel two years ago — but this time, the market was ‘diametrically different’, said bankers.

Saipem, the Italian oil and gas engineering group, entered the high yield bond market on Wednesday, backed by a return to profit and rising oil prices, in a deal set to attract the company’s home crowd.

Al Ahli Bank of Kuwait (ABK) is on track to become the fifth bank from the Gulf state to access the dollar market this year, while Ezdan pulls off a coup for lower rated names in the sukuk market.

Credit Bank of Moscow was on track to print its first Basel III compliant deal and had taken books of $1.7bn by Wednesday morning.

Chatter about the 'Trump Dump' as investors lose confidence in US economic stimulus may be intensifying, but it has not produced the equity correction predicted, and capital markets in Europe are ploughing ahead, unfazed by the UK's triggering of Article 50 on Wednesday.