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Tricor Holdings, owned by investment firm Permira, has brought a rare dividend recapitalisation deal to Asia’s loan market. Pan Yue reports.

Athene Global Funding encountered slim demand after circling back to the sterling market on Wednesday, with lead managers citing a ‘challenging environment’ for new issues in Europe.

The Saudi-headquartered Islamic Development Bank is set to sell a dollar bond on Wednesday, having launched the deal on Tuesday. The sustainability sukuk is one of two FIG deals from the Gulf region this week, as Kuwait’s Boubyan Bank also entered the market for a dollar sukuk.

China SCE Group Holdings managed to raise $300m from a narrow issuance window on Tuesday, just as sentiment started to sour around the country’s high yield property bond market.

Bank Negara Indonesia sold a rare Basel III-compliant tier two dollar bond on Tuesday, raising $500m.

Science City (Guangzhou) Investment Group Co, a Chinese state-owned enterprise, raised $550m from a dual tranche debut bond sale on Tuesday.

Vietnam’s Masan Group Corp, an investment holding company operating in the food and beverage and consumer retail industries, has increased its borrowing to $350m after receiving strong response from 23 banks during syndication.

Europe’s high grade corporate bond pipeline is bulging this week, as slightly improved market conditions from last week have prompted a diverse set of issuers to lock in funding before the end of the quarter.

The Islamic Development Bank mandated banks on Monday to arrange a sustainability sukuk, having forayed into the market last year with a Covid-focused deal. Fellow Gulf-based issuer Boubyan Bank has also mandated banks for a dollar sukuk.

The UK Debt Management Office on Monday chose the banks to lead the sale of its second sukuk via syndication. Like the sovereign’s debut sukuk in 2014, none of the UK’s Islamic banks are included on the mandate.

The Republic of the Maldives, which took a big hit to its tourism-reliant economy last year due to the pandemic, announced a tender and new money offer on Monday, returning to the dollar bond market after a three year hiatus.

Delhi International Airport (Dial) had to pay a hefty premium for its $450m green bond amid investor concerns about market volatility and the state of the travel industry.