ICBC

Akbank is kicking off the first set of refinancings of the year for Turkish banks, launching its syndication with a smaller volume and tighter margins than last year’s deal. But lenders are divided on whether the deal represents an achievement for the Turkish bank, or betrays an outlook festooned with risk. Mariam Meskin reports.

Chinese state-owned Shenwan Hongyuan Group and Hong Kong-based restaurant owner Tai Hing Group are preparing their IPOs for this year.

China’s activity in central and eastern European (CEE) lending and investment is set to swell further in 2019, as its banks and other financial institutions extend their reach.

All eyes were on Sunac China Holdings on Thursday when it executed a deal that was six times covered at its peak. Despite the competition, Redco Properties Group also managed to walk away with a new bond, thanks to the flexibility of the 364-day format.

African Export-Import Bank has closed a $500m five year term loan, it announced on Wednesday, partly guaranteed by the Export-Import Bank of China. The presence of a mainly Asian syndicate has sparked discussion about the continually increasing Chinese capital flowing into Africa.

Haitong International Securities has returned to the loan market for a HK$13.8bn ($1.7bn) refinancing led by a 16-strong group of mandated lead arrangers and bookrunners.

Bankers have confirmed that Qatar National Bank has entered the second phase of syndication to refinance an existing €2.25bn facility due for maturity in May 2019.

Guotai Junan International Holdings paid a premium over the curve of some of its Chinese brokerage peers for a $200m bond on Monday.

Chinese state-owned energy company Beijing Enterprises Water Group (BEWG) is preparing its sixth Panda bond, and the first deal in the asset class for 2019, offering a Rmb1bn seven year and a Rmb1bn 10 year tranche.

Africa Finance Corp has raised a $300m loan facility from a consortium of international lenders.

Several Chinese borrowers ventured into the bond market at the end of December, locking up last-minute deals that were mainly supported by anchor orders.

Equate Group, the Kuwaiti petrochemical producer, has amended and extended its $1.9bn term loan and $1bn revolving credit facility, achieving a reduction in pricing and strong demand from international lenders.