ICBC

Indian electricity utility firm Tata Power has launched a $245m refinancing loan into general syndication after mandating five banks last month.

Industrial and Commercial Bank of China’s London branch priced its dual-tranche floating rate notes (FRNs) at the expected levels on Thursday, but issuers in the pipeline may have a hard time to pull off the same feat.

Chinese state owned vehicle manufacturer Dongfeng Motor sold its second euro bond on Tuesday with its previous issue in euros maturing later in October.

Red chip China Power International and Singapore’s Global Logistics Properties (GLP) were the first to tap the Panda market after the People’s Bank of China finally delivered the rules for issuers in the asset class.

Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.

One of Europe’s major electricity producers, Portugal’s EDP, sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles. Meanwhile, Dutch airport owner and operator Royal Schiphol Group announced plans for its debut green bond. Both followed French vehicle leasing company ALD’s inaugural green bond.

Four Chinese state-owned enterprises (SOEs) were out in the dollar bond market on Wednesday, looking to seal trades ahead of a China sovereign bond sale on Thursday. But the volatility in the market presented a short-lived opportunity for debt sales and the borrowers’ new notes all slumped in the secondary market.

Trafigura, the Singaporean commodity trading company, issued its third Panda bond this year on September 28. As for its previous outings, the third tranche was placed in the interbank market as a three year private placement. Meanwhile, The Wharf Holdings and China Gas Holding also made their return to the market in the same month.

One of Europe’s major electricity producers, Portugal’s EDP sold its first green bond on Tuesday, aligning its fundraising with the company’s green principles.

A spike in US Treasury yields on Thursday had a knock-on effect on bond spreads in Asia, posing an additional challenge for issuers ready to head out the gates next week.

China Life Insurance Co is planning a return to the offshore bond market for capital after a drop in its core solvency ratio, while Industrial and Commercial Bank of China is seeking shareholders’ blessing for a Basel III additional tier one (AT1) deal.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.