HSBC

Singapore’s army of private bank accounts were spoilt for choice this week with a triple-whammy of bank capital transactions that suited them perfectly — an additional tier one from United Overseas Bank and tier two offerings from Société Générale and National Australia Bank.

Chinese bond issuers have suffered from declining interest from European and US investors, as concerns about the slowdown on the mainland has an impact. But with quasi-sovereign State Grid Corp of China sealing its first euro-dollar trade this week, it has demonstrated that, with the right strategy, issuers can find a way to dispel cynicism. Narae Kim reports.

Banks have to make their pitches for the $3bn loan for Petroleum Development Oman by Thursday, according to the CEO of HSBC Oman.

The UK’s LSL Property Services has extended its existing £100m credit line to May 2020.

UK retailer Next on Wednesday issued a £300m bond, benefiting from a receptive period in the sterling corporate bond market, which is expected to wind down in June as the Brexit referendum approaches.

Agence France Locale printed its second ever syndication on Wednesday, building an oversubscribed book for a seven year deal.

Ezdan Holding, a Qatari property company, has printed the third bond from the Middle East this week, a $500m five year sukuk.

The Republic of Latvia sold its €650m 1.375% 20 year bond on Tuesday — a deal that attracted $2bn of orders.

The CEEMEA market is churning out deals as expected this week, with the Middle East still leading the charge in both the bond and loan markets.

Quasi-state owned Petroleum Development Oman is reaching out to banks for a $3bn club loan, and asking for chunky tickets of $300m each, according to sources.

Chinese tissue paper maker Youyuan International has returned to the loan market after a two year gap and is seeking a $120m 3.5 year facility.

Chinese names are continuing their resurgence with State Grid Corp of China returning for a dollar/euro combo while China International Capital Corp (Hong Kong) has opened books for its debut offshore appearance.