ICBC

Macau casino operator SJM Holdings has launched a HK$25bn ($3.2bn) dual-tranche financing into general syndication with proceeds to be used for the construction of a new project in the gambling hub.

Chinese bond issuers have suffered from declining interest from European and US investors, as concerns about the slowdown on the mainland has an impact. But with quasi-sovereign State Grid Corp of China sealing its first euro-dollar trade this week, it has demonstrated that, with the right strategy, issuers can find a way to dispel cynicism. Narae Kim reports.

Chinese names are continuing their resurgence with State Grid Corp of China returning for a dollar/euro combo while China International Capital Corp (Hong Kong) has opened books for its debut offshore appearance.

State Grid Corp of China is set to go on the road next week to gauge interest for a dual-currency bond, as it seeks to raise funds in dollars and euros.

Standard Bank of South Africa has grown its loan from $600m to $1bn in syndication, largely driven by demand from the four Chinese lenders in lead roles.

Beijing-based Sunshine Life Insurance Corp found a strong following for its $1.5bn triple-tranche bond on Wednesday, despite its debutant status in the international debt market.

Beijing-based Sunshine Life Insurance Corp has opted for a triple-tranche offering for its debut in the offshore bond market, dividing the trade into three year, five year and 10 year notes.

South Africa’s Investec Bank expanded the syndicate for its latest loan from 17-20 banks, including two Chinese lenders.

Mercuria, the Swiss energy and commodity trader, is set to launch its annual European refinancing loan next week, according to a banker familiar with the deal.

Sunshine Life Insurance Corp has launched a roadshow to test appetite for what would be its debut international bond, while Beijing Automotive Group is mulling a deal of up to Rmb15bn ($2.3bn).

Sunshine Life Insurance Corp has embarked on a roadshow for what would be its debut international offering, while Beijing Automotive Group (BAIC) is seeking approval to raise new debt.

ICBC Standard Bank has hired Kent Hilen into the newly created role of head of international coverage, following the recent creation of an international DCM and syndicate operation.