JP Morgan

Omani gas transportation company, Oman Gas Co, a branch of state-owned Oman Oil Co, has sold an $800m credit facility to local lenders.

MTN deal volumes year-to-date have slumped by nearly a third year on year, falling from $51.6bn in 2019 to $35bn this year. The fall has been particularly pronounced in core currency deals, with deals from other currencies forming a larger proportion of the market.

Investors flocked to Hysan Development Co's opportunistic $850m subordinated bond on Tuesday, allowing it to take home a larger deal than expected.

Yield-hungry investors pumped in more than $4bn into China Minmetals Corp’s $1bn perpetual bond on Tuesday. The issuer started at a generous pricing level to attract buyers in a volatile market.

CPPIB Capital is moving forward with its five year dollar benchmark which was mandated last Friday but postponed following the hostile market conditions at the start of the week. Bankers away from the deal expect it to go well, given the limited size.

On-looking SSA bankers applauded the European Stability Mechanism’s trade on Tuesday, which managed to get over the line with minimal new issue premium despite sharp moves in the rates market caused by the spread of the Covid-19 coronavirus.

Spain was able to raise €5bn of 30 year paper on Tuesday, braving difficult market conditions to close the deal. While the trade was a success, the sharp fall in the order book at the final spread indicated some investors are beginning to push back on price.

Santander UK is looking to buy back part of a subordinated bond issued in 2013 in a bid to “optimise its regulatory capital structure”.

Russian Railways is embarking on a roadshow to market the first ever green Swiss franc bond from Russia, even as fears of the spread of the Covid-19 coronavirus continue to infect EM bond trading.

Big Hit Entertainment, manager of popular K-pop boy band BTS, has mandated four firms to run its IPO, according to a banker working on the deal.

The European Stability Mechanism has requested its primary dealers or ‘market group banks’ to set up entities within the 27 member states of the European Union in order for them to participate in bond auctions by the supranational and its sister issuer, the European Financial Stability Facility.

CPPIB Capital, which mandated banks for a five year benchmark on Friday, has postponed the deal in the face of a hostile market rocked by volatility engendered by the Covid-19 coronavirus outbreak.