JP Morgan

Turkish real estate developer Ronesans Gayrimenkul Yatirim is still assessing investor feedback and is yet to release initial price guidance, despite having told the market that it was looking to price its bond “as early as” Wednesday.

Kazmunaygas’ (KMG) $3.25bn bond on Tuesday proved to be a beneficiary of the latest round of US sanctions against Russia sanctions, as investors sought a new oil play away from the volatility surrounding assets from the proscribed state.

Coal mining company Mongolyn Alt (MAK) is understood to have extended the bookbuilding process for a five non call two year transaction that was opened for orders on Tuesday.

Investors who can buy investment grade corporate bonds in a variety of currencies have been making the most of the relative value of dollar assets in recent years. However, the cost of hedging those assets has been steadily rising and is now at a point where such assets are looking much less attractive for non-US investors.

JP Morgan has appointed Marta Arteaga to its EMEA equity capital markets execution team as a vice-president.

Ping An Healthcare and Technology Co, a subsidiary of Chinese conglomerate Ping An Group, will launch bookbuilding for its Hong Kong IPO next week, according to a source close to the deal.

The International Development Association wowed on-looking SSA bankers with its debut bond issue on Tuesday, with some saying it printed in line with sister issuer World Bank (International Bank for Reconstruction and Development). The borrower opted for dollars with its first trade, but is likely to be a regular name in the currencies making up the IMF’s special drawing right basket.

Kazakhstan’s national oil company Kazmunaygas, rated Baa3/BB-/BBB-, has released initial price guidance for its dollar senior unsecured triple tranche 2025, 2030 and 2048 issue.

Turkish real estate developer Ronesans Gayrimenkul Yatirim has set the tenor on its benchmark dollar bond at five years, and is expecting to print the note “as early as tomorrow”.

The Republic of Turkey nipped into the market on Monday afternoon to raise $2bn with an SEC registered bond, just days before presidential and parliamentary elections were called. While one EM investor called the issuing strategy unusual, a rival banker said it was a classic case of Turkish opportunism, adding that the higher yield paid is the reality of the market now.

German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared.

Singapore’s United Overseas Bank made its first foray into the US market on Monday, raising $1.2bn from a two-tranche transaction, receiving strong support from US accounts.