News content

Shimao Property Holdings has returned to the dollar market with a $300m tap of its $800m 2022s. As with the original deal, the new trade saw a huge order book and the issuer ended up giving what bankers agreed was the lowest new issue concession from a Chinese property developer in 2015.

Xinyi Solar raised HK$1.15bn ($148m) from a top-up subscription of shares on the night of Tuesday, March 10, with weak markets at the time of execution causing investors to be highly price sensitive. But thanks to the momentum provided by the company’s positive results one week ago and a hefty discount, the trade pulled through.

Far East Horizon’s latest borrowing has risen to $350m from its launch size of $200m, on the back of robust demand.

One of the greatest advantages of clearing for buyside participants is that they do not have to invest in derivatives documentation such as International Swaps and Derivatives Association master agreements and credit support annexes which are costly and time consuming for market participants, according to speakers as the 40th Annual Futures Industry Association Boca Conference in Boca on Tuesday.

Malaysia’s state oil company Petroliam Nasional (Petronas) has started taking orders for a four tranche dollar deal split between a five year sukuk alongside seven, 10 and 30 year conventional bonds. An investor said he was expecting a total size of $6bn-$7bn, making the deal potentially the second biggest G3 bond in Asia ex Japan after Alibaba's $8bn deal last year.

Dubai based mortgage firm Amlak has announced yearly financial results on the Dubai Financial Market (DFM) stock exchange for the first time in six years.

Malaysia’s Petronas opened books on its first international sukuk in almost six years on Wednesday, as part of a colossal four tranche transaction that could upend the Islamic bond league table.

Takween Advanced Industries, a Saudi plastic packaging firm has obtained a 10 year SR1.3bn ($346.5m) murabaha facility to fund an acquisition.

Doha-based Qatar Islamic Bank (QIB) has signed a memorandum of understanding with South Korea’s Woori Bank.

After a quiet Monday, block trade action returned on Tuesday evening, even though it had been a down day for European stocks, with the Euro Stoxx 50 losing 1.2%.

Faurecia, the French car parts supplier, sold its €500m unsecured bond on Tuesday to yield 3.125%, joining a parade of high yield cost-saving refinancing issues in March.

Flowserve, the industrial engineering company based in Irving, Texas, issued a €500m seven year bond on Tuesday.