ICBC

The Kingdom of Saudi Arabia printed its $11bn bond on Tuesday, which several bankers and investors thought had been timed to maximise disruption of Qatar’s return to market, which is also expected this week. But leads said the modest size taken by Saudi from a $50bn book showed that there was no intention of throwing the capital markets into disarray.

Chinese conglomerate Sinochem Group has hired a seven-strong syndicate team to run the Hong Kong IPO of its oil assets, according to a banker on the mandate.

Saudi and Qatar look to be printing jumbo bonds this week, but the timing of both in the same few days after so many months of waiting is prompting chatter about which sovereign has caused the traffic jam and whether political machinations are behind it.

Industrial and Commercial Bank of China raised $1.2bn on Monday from two floating rate notes (FRNs) issued through its Singapore branch, getting ahead of peer Bank of China which kicked off a jumbo Belt and Road-related transaction.

Ghana Cocoa Board (Cocobod) has sent off invitations to its annual financing for its cocoa harvest amid concerns it may struggle to repay its previous loan.

State-owned holding company Investment Corporation of Dubai (ICD) has successfully refinanced a loan maturing in June with a club deal.

Turk Eximbank has signed a €544m loan, above its launch amount of €300m, to refinance debt and support its business backing exporters.

Saudi Arabia has had to scale back banks grappling to get on its $16bn loan, which will be used to refinance a $10bn loan taken out in 2016.

Chinese hotel operator GreenTree Hospitality Group has sliced its $349.2m IPO of American Depositary Shares (ADS) to just over half the original size.

Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.

GLP is lining up a three year Rmb1.2bn ($190m) bond in the interbank market next week, less than two months after the issuer sold a bond of the same size in the exchange market.

China-based GreenTree Hospitality Group has kicked off bookbuilding for an up to $349.2m IPO on the New York Stock Exchange, according to a filing with the US market regulator.