Standard Chartered

Debt syndicates Ang, Sloane join ANZ — Citi names leadership for new BCMA unit — Gori to run JP Morgan Apac banking — StanChart hires from HSBC for Singapore global banking

Right Lane, a wholly-owned subsidiary of Chinese conglomerate Legend Holdings, has paid a higher margin than previously for a $300m-equivalent dual currency borrowing. It is the latest in a series of Chinese and Hong Kong companies that have hiked margins on their return to the loan market this year.

The Republic of Turkey has tightened price guidance for its three year sukuk to 5.9% area, with books for the deal in excess of $3.5bn.

Turkey has picked banks for its third benchmark of the year and its first since 2017 to be issued using sukuk documentation. Bankers say another Turkish borrower could mandate before the end of the week.

Chinese real estate companies Zhenro Properties and China Aoyuan Group reopened the Asian offshore bond market with a bang, as cash rich investors flocked to their transactions.

Chinese property issuers led the reopening of Asia’s offshore bond market following a week-long holiday in the Mainland to celebrate the Lunar New Year. Investors responded to the new deals with enthusiasm.

Akbank is kicking off the first set of refinancings of the year for Turkish banks, launching its syndication with a smaller volume and tighter margins than last year’s deal. But lenders are divided on whether the deal represents an achievement for the Turkish bank, or betrays an outlook festooned with risk. Mariam Meskin reports.

As climate change climbs the agenda, banks are finding themselves under increasing pressure to bolster their commitments to social responsibility. That is helping green loans take off in the Middle East and Africa — slowly. Some bankers are confident that banks will see the importance of sustainable financing, but others are unconvinced, pointing to a range of obstacles.

Emirates Global Aluminium (EGA), the largest industrial company in the UAE outside of the oil and gas sectors, has kicked off the year with a $6.5bn term loan facility, as market conditions remain “borrower friendly”.

BFI Finance Indonesia has returned to the loan market for a $55m three year facility.

Chinese automobile retailer Zhejiang Geely Holding Group has returned for a €1.4bn dual-tranche facility to refinance a bridge loan raised last year for its purchase of a share in Swedish truck maker AB Volvo.

Asia’s sustainability market took a big step forward this week when Kookmin Bank priced a Basel III-compliant tier two bond with a sustainability label — the first of its kind in the region. Morgan Davis reports.