Morgan Stanley

China Metallurgical Group Corporation (MCC) priced its second dollar bond of the year on August 21. The borrower again opted for a standby letter of credit (SBLC) backed three year issue after seeing striking success in its first outing with the structure.

China Orient Asset Management made a blockbuster return to the dollar market on August 27, attracting $10bn of bids for its dual tranche issue. The enthusiastic investor response is a reflection of the progress that China’s toxic asset management sector has made in G3 bond markets since China Orient brought the sector’s first offering in September 2013.

The names have emerged of the 16 lenders that have signed up to the $1bn dual tranche loan from mobile phone company Xiaomi ahead of its launch into general syndication next week. Including the three original bookrunners and mandated lead arrangers, the total number of banks at the top level could swell to 20 as one more lender processes its approval.

E-commerce giant Alibaba Group has signed a $3bn revolving facility with four lenders, just days before it starts premarketing its IPO.

China Orient Asset Management made a blockbuster return to the dollar market on Wednesday, attracting $10bn in bids for its dual tranche issue. The enthusiastic investor response is a reflection of the progress that China’s toxic asset management sector has made in G3 bond markets since when China Orient brought out the sector’s first offering in September 2013.

Transurban, a Melbourne based toll road developer and manager, will start a four day roadshow in London and Europe on Monday for a potential euro bond.

The Republic of Turkey has mandated four banks and set investor meeting for the start of September with a view to selling a Samurai bond. Bankers said that this year could be a record for this kind of note as volumes are almost level with the full year 2013.

China Orient Asset Management is back in the dollar market, offering a dual tranche five year and ten year deal on Tuesday to build out its curve in the currency. The borrower became the first of China’s big four bad debt managers to tap the G3 market when it printed a three year dollar bond in September 2013.

The base case fair value yield to call for Basel III compliant additional tier one (AT1) instruments from China’s mega banks should be between 7% and 8%, according to Morgan Stanley.

China Metallurgical Group Corporation (MCC) priced its second dollar bond of the year on Thursday. The borrower again opted for a standby letter of credit (SBLC) backed three year issue after striking success in its first outing with the structure.

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China Metallurgical Group Corporation (MCC) is back in the market with a new bond, its second this year to be backed by a standby letter of credit (SBLC).