Standard Chartered

Export-Import Bank of India got away with paying no new issue premium on its $500m return to dollar bonds, despite rising tensions between India and Pakistan.

Indonesian textile company Delta Merlin Dunia Textile made its debut in the dollar bond market on Tuesday. But first it had to overcome a huge range of value estimates from investors.

Banks outside the top five in the league tables, especially those operating in emerging market bonds, often sing a song that would tug at the heart strings if set against a solo violin. They claim that the league tables for CEEMEA deals often do not represent the banks that do the bulk of business in each region because the huge jumbo deals that occasionally spring up skew the results wildly in favour of the big firms. But the numbers show that claim is utter nonsense.

China Development Bank Financial Leasing Co (CDBL) has raised $700m from the bond market, leaning on anchor orders to squeeze a tight final price.

China real estate companies Zhenro Properties Group and China Evergrande Group started the new month with fresh dollar deals at the end of last week, marking Zhenro’s fourth trade of the year and Evergrande’s second.

Haitong International Securities has boosted an offshore borrowing to HK$16bn ($2bn) after receiving strong demand during the syndication.

Dollar bond supply from China continues unabated. China Vanke Co and Agile Group Holdings joined their real estate peers in a recent spree, raising $1.1bn between them, while science park operator TUS-Holdings priced a $350m dollar bond.

The first issuer representing the United Arab Emirates (UAE) as a federal entity came to market this week. The deal was part of a trio from the Middle East, none of which offered investors anything in the way of new issue concession.

Two Turkish issuers were back on screens this week as the country continues its rehabilitation in the capital markets. QNB Finansbank printed with a 10bp new issue premium, according to one lead manager, a level which he said shows how far Turkey has come since the sovereign paid up 50bp for its post-volatility return to market trade in October.

QNB Finansbank has revised initial price thoughts for its benchmark dollar 5.5 year bond, with books for the deal over $1.4bn. Both an investor and a syndicate official had said earlier in the day they expected tighter pricing.

The first issuer representing the United Arab Emirates as a federal entity came to market this week. Emirates Development Bank raised $750m with a five year, surprising market participants with an aggressive pricing strategy.

China’s Hefei Guoxuan High-Tech Power Energy and Bank of Communications Financial Leasing are both raising dollar loans. But while Guoxuan is tapping offshore liquidity, Bocom Leasing is targeting onshore banks.