News content

Bank of America Merrill Lynch followed the lead of most US rivals by choosing to stay in dollars for post-results funding this week.

Taiwan's stature as an offshore renminbi hub is being given a lift from expectations of the currency's further depreciation against the dollar. A flurry of deals came in the last month, with a particular surge in the last week.

Sri Rejeki Isman (SriTex) is seeking to return to the dollar bond market for up to $420m in the second half of the year.

Citic Capital Holdings has hit the market for a HK$1.8bn ($232m) three year loan, with six mandated lead arrangers and bookrunners in tow. The company is paying a lower margin for the three year borrowing than for a two year it signed in 2013.

Numericable set final pricing on its €800m leveraged loan late Monday, in a refinancing transaction that bankers said yielded few surprises with its speed and success.

Short-end CNY swaps have been very well offered after the People's Bank of China (PBoC) injected cash into the financial system and increased its currency fixing. The 1s/3s NDIRS slope remains flat but a very near-term correction is thought unlikely given the current equity market volatility, writes Deirdre Yeung of Total Derivatives.

Colombian oil company Pacific Rubiales had some of the worst of an ugly Monday for Latin American high yield credit as lower oil prices and a downgrade at the end of last week push its bond prices 3.5-4 points lower on the day.

Malaysia’s Ranhill Group, which was forced to shelve an MR753m ($197m) IPO in 2013, will be making a comeback after the reverse takeover of its power and water assets received the approval of the regulators, paving the way for a MR660m deal.

South Korea’s Shinhan Bank wrapped a successful return to the offshore renminbi market on July 27, raising more than initially aimed on the back of strong demand. The issuer was also able to price the new dim sum bond inside its dollar curve thanks to a favourable cross currency swap (CCS).

China Merchants Holdings (International) became the third Chinese issuer in less than a week to access the international bond market with a dual-tranche offering split between five and 10 year bonds on July 27. The identical structures and close proximity of the deals meant it was more or less the same result for the Chinese conglomerate.

Port and ferry service provider Zhuhai Holdings Investment has allocated its new borrowing after raising the size to HK$2bn ($258m), twice the amount at which it was launched.

Fitch removed the positive outlook from privately owned Brazilian bank BTG Pactual’s ratings on Monday, saying the deterioration in the operating environment in Brazil outweighed the positive effects of the acquisition of Swiss private bank BSI.