Standard Chartered

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

Nigeria hit screens on Monday afternoon to announce a roadshow for a triple tranche dollar bond, confirming rumours of a planned capital markets return that began circulating last week.

High yield issuers’ struggle to push out deals in turbulent market conditions was reflected when Singapore’s Interplex Holdings was forced to cancel its inaugural dollar offering.

The Seychelles’ $15m blue bond, issued last month to finance sustainability improvements to its maritime economy, was designed to satisfy all the needs of socially responsible investors and could therefore be used as a template, according to bankers at Standard Chartered who worked on the deal.

Singapore’s Interplex Holdings pulled its planned debut dollar bond sale on Friday.

Ho Chi Minh City Power has sealed Vietnam’s first syndicated financing in the onshore dong market, with a bevy of Taiwanese and South Korean lenders piling in.

Chinese technology giant Baidu grabbed $1bn from a bond on Thursday, while a local government financing vehicle (LGFV) in Hunan raised $300m from a deal that was less than twice covered at its peak.

China Development Bank Financial Leasing Co (CDB Leasing) raised $400m through its aviation leasing arm on Thursday, paying around 10bp of new issue premium for a three year floating rate note.

Barito Pacific and Bank Rakyat Indonesia have returned to the international loan market for new fundraisings.

Indonesia Asahan Aluminium (Inalum) has mandated seven banks for a chunky $2.85bn bridge loan to support its acquisition of Freeport Indonesia, a mining company.

Bank Rakyat Indonesia has mandated 13 banks for a $700m multi-tranche borrowing, breaking a three-year absence from the loan syndications market.

The government of Kerala is poised to sell its debut offshore rupee bond after a non-deal roadshow this month, in what could be the first Masala issuance since April.