News content

More issuers are expected to hit the sterling market this week after a deal from ASB Bank on Tuesday that was encouraged by weakness in the euro market and a lack of supply of sterling paper.

Tofas, the Turkish automaker owned by Koc Holding and Fiat, has mandated banks for a €200m loan it will use to develop a new car model.

Commitments for a €1bn loan for Romania’s OMV Petrom are due by the end of this week, according to bankers on the deal.

UniCredit Czech Republic and Slovakia has returned to the covered bond market after first roadshowing in November.

Sinopec Group Overseas Development is looking set for another record-breaking transaction in the bond market, having opened books on April 21 for a multi-trancher and dual-currency whammy, which had netted a colossal volume of orders just half a day into bookbuilding.

Bahrain’s Ahli United Bank has released price guidance for its perpetual tier one bond at low 7% area. A syndicate official away from the deal called the guidance fair and said the deal would act as a test of Middle East liquidity after the fall in the oil price.

Beijing Enterprises Holdings has appointed four banks to arrange a series of investor meetings in Europe ahead of a potential euro-denominated bond.

Uralkali, the Russian potash fertiliser producer and exporter, has agreed a $530m four year pre-export facility with an accordion feature, becoming the first Russian borrower to sign an international loan in 2015.

Doosan Heavy Industries & Construction has made a solid entry into the US dollar bond market, raising $500m from a deal that came backed by Export-Import Bank of Korea (Kexim). The transaction’s success and jubilant investor response bodes well for the wider market, opening up opportunities for other issuers to raise offshore debt with guarantees from policy banks.

Noor Bank broadened the Islamic bond market on Tuesday, offering investors a fresh new name although not a particularly appealing one.

Home Credit and Finance Bank launched a tender offer for its subordinated $500m 2020s on Monday.

Palm oil plantation company Golden Agri-Resources (GAR) has opened books on a bond issue targeting a size of between S$100m ($74m) and S$150m from a three year offering.