Standard Chartered
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The Middle East has been fuelling business in the CEEMEA bond and loan markets for the last 12 months. That looks set to persist in 2019, when the region’s big hitters are expected to come with multi-billion dollar financing needs to both markets. Michael Turner and Francesca Young report. -
Chinese property companies are pushing their fund-raising for 2018 to the bitter end – with sometimes surprising results. Cifi Holdings scored with a larger-than-expected $400m bond on Monday, while Redsun Properties Group sold a $200m tap.
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Wuhan Financial Holdings Group Co made its dollar market debut on Monday, raising $142m from a three year club-style deal.
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The CEEMEA bond market has been shaken up in 2018. With some of the major issuers out of action, the Middle East has come into its own and heading the charge is Standard Chartered, which enjoyed a breakout year in the region.
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UK-listed Ophir Energy has amended and extended its reserves-based lending facility, as a surge of end of year deals continue to work their way through the market.
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Anta Sports Products has mandated six banks for a €2.2bn loan to back the €4.6bn acquisition of Finnish sports brand Amer Sports Oyj.
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After its successful debut in the Chinese ABS market, Genius Auto Finance, the joint venture between Geely Automobile Holdings and BNP Paribas Personal Finance, scored an equally popular follow-up deal at an even tighter price.
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Policy lender China Development Bank printed a dual-currency, three-tranche transaction on Tuesday, raising $2.4bn-equivalent. While it paid just a couple of basis points of new issue premium for the dollar bonds amid a short-lived market rally, demand for the euro portion exceeded expectations.
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Grand Baoxin Auto Group took $358m from the syndicated loan market after launching its latest deal at $200m in September.
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Chinese property developer KWG Group Holdings executed a swift tap last Friday to use up the rest of its fundraising quota for the year, adding $150m to its coffers.
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Power Construction Corporation of China (PowerChina) guaranteed a dollar bond for its real estate arm on Thursday, with the notes tightening by two basis points in the secondary market.
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