HSBC

Nets — Stahl — Schaeffler — Excellia Group

Investors have hailed the Investment Corporation of Dubai’s decision to issue a dollar sukuk as a sign that the emirate is genuine about its push to become the centre of the Islamic economy. ICD began roadshows on Thursday in Singapore as it lines up a dollar debut.

London-based insurance company Aon and defunct French mortgage lender Caisse Centrale du Credit Immobilier de France (3CIF) took advantage of the recent undersupply in the FIG primary market to price senior deals this week. 3CIF tapped the short end of the maturity curve and Aon went long.

The state owned Dexia Kommunalbank is expected to return to the covered bond market for the first time in three years. Being among the lowest rated bonds issued this year from Germany, the spread pick-up should prove attractive.

Schaeffler has set final tranche sizes for its $2bn-equivalent six year term loan 'E' and tightened the pricing for the dollar and euro pieces.

Sinochem saw strong demand for its sophomore CNH issue despite strong competition in the market. The Chinese state owned conglomerate’s investment grade rating proved an attractive feature for investors and the issuer was able to raise Rmb2.5bn ($406m) with its second deal in less than two weeks.

China’s Huawei Technologies is preparing to set foot in Europe with its $1bn revolver, marking the first time the company has opened syndication up to the European market. Asian lenders will miss out on the chance to lend to the credit, but bankers are applauding the move as it will help the borrower broaden its banking group, writes Rashmi Kumar.

Investors have hailed the Investment Corporation of Dubai’s decision to issue a dollar sukuk as a sign that the emirate is genuine about its push to become the self-styled centre of the Islamic economy. ICD began roadshows on Thursday in Singapore as it lines up a dollar debut.

ICBC Finance Company, a wholly-owned subsidiary of Industrial and Commercial Bank of China, has wrapped up syndication of its $300m facility, after a group of six banks joined during general.

Dim sum issuance volumes are on the rise, with four issuers launching deals and another wrapping up a roadshow on Thursday.

Jingrui Holdings announced guidance on its debut dollar bond at 13.625% on May 7, the highest coupon on any dollar bond in Asia this year.

Delek & Avner has managed to slice over 50bp off initial price talk on the longest bond of its $2bn five tranche deal, bringing the final spreads safely inside Israel Electric Company, its closest comparable for the whole curve. Books stand at $13bn-$14bn.