JP Morgan

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.

Hanwha Life Insurance Co became the latest South Korean name to raise funds from the dollar bond market on Monday, as the country’s insurance firms prepare to adhere to new capital standards.

The International Development Association, part of the World Bank Group, is on screens with its debut bond issue. The trade is offering a handful of basis points over seasoned World Bank Group issuer the International Bank for Reconstruction and Development (known as World Bank), according to bankers away from the mandate.

French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand.

German building materials company HeidelbergCement sold its first trade of 2018, replicating its last deal of 2017. It also priced the new deal at a spread close to that it paid in 2017.

FirstRand Bank was on track to open the market for South African tier two issuance ahead of Barclays Africa, which is lining up a trade for later this week.

The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.