ICBC

Chinese investors welcomed the first Panda bond issuer from the Middle East with caution this week. The government of the Emirate of Sharjah sold a Rmb2bn ($317.2m) three year bond in the upper half of the coupon range.

Akbank is taking the lead as usual in the spring round of Turkish bank refinancings. It has launched a loan to refinance the $1.2bn loan it took out in March last year. Pricing is set to compress further as lenders remain positive about Turkey, despite its recent invasion of Syria.

Far East Horizon is making a rapid comeback with an $800m fundraising just two months after allocating an identical loan, confident that banks will gobble it up.

The government of the Emirate of Sharjah is set to become the first issuer from the Middle East to enter the Panda market, after unveiling plans to raise Rmb2bn ($315.9m) from the onshore market.

China Cinda Asset Management Co has mandated 12 global co-ordinators and an additional 11 bookrunners and lead managers for its upcoming senior dollar transaction, with investor meetings and calls scheduled over the next two days.

Sino-Ocean Property Holdings raised Rmb3bn ($469.4m) from the Panda market this week, which marked the issuer's first feat in the asset class in 10 months.

Chinese property developer Country Garden Holdings was forced to pull a Rmb1.8bn ($281.2m) three year Panda bond this week after investors demanded a better return amid rising volatility, writes Noah Sin.

Bonds backed by standby letters of credit have fallen from grace, as tightening spreads in the dollar bond market and growing risk appetite among investors ensure that issuers can do without credit enhancement. Have SBLCs had their day in Asia? Addison Gong finds out.

Chinese companies Xiamen Xiangyu Group Corp and Shimao Property Holdings each raised $500m on Tuesday, but saw different reactions to their bonds. While investors were keen on the former investment grade rated name, demand for the property industry is starting to see some pull back.

Onshore investors forced red chip issuer Country Garden Holdings to pull a Rmb1.8bn ($281.2m) three year bond on Tuesday. It would have been the real estate company’s first deal in the Panda market since September 2016.

Chinese state-owned Shandong Gold Mining is planning an IPO in Hong Kong, after filing a draft prospectus with the city’s bourse on Monday.

Investec plc, the South African bank’s UK branch, has signed a loan for $450m — growing to more than double its launch amount of $200m after being three times subscribed.