Standard Chartered

Indonesia state-owned electricity company Perusahaan Listrik Negara (PLN) priced its first deal as a fully investment grade rated issuer on Thursday, tapping not only the dollar market but also euros for the first time.

The pricing achieved by Doosan Power Systems on its $300m capital bond is being viewed by some as “against all fundamental logic”, given the strong market technicals for high quality and shorter-dated South Korean paper.

Industrial and Commercial Bank of China’s London branch priced its dual-tranche floating rate notes (FRNs) at the expected levels on Thursday, but issuers in the pipeline may have a hard time to pull off the same feat.

Deutsche appoints north Asia loans head – Roch jumps to StanChart – Change of guards in HSBC Philippines, Singapore

Alan Roch has joined Standard Chartered in Hong Kong as head of bond syndicate for Asia.

Chinese state-owned enterprise (SOE) Shandong Gold Group Co achieved size with its three year outing on Monday, raising $600m. Another government-linked entity in the province, Weifang Urban Construction and Development Investment Group Co, debuted in the offshore market with a $250m trade.

A $1.1bn loan to take India’s Vedanta Resources private was launched into general syndication at the beginning of the month, with Credit Suisse and Standard Chartered at the helm.

Islamic Development Bank has picked banks for a roadshow promoting its debut euro denominated sukuk benchmark — for the second time this year.

The People’s Republic of China, acting through its Ministry of Finance (MoF), priced a $3bn return to the international bond market, pushing out its maturity profile to 30 years. But a weaker backdrop meant that the order book was not as strong as its dollar trade last year.

Pledges by leading banks to pull back from financing “dirty” projects such as coal will be meaningless unless governments step in with regulations to prevent other investors taking their place, a senior banker has said.

Sonangol, the Angolan national oil and gas company, has mandated Standard Chartered to arrange a term loan after a two year absence from the market.

Yuexiu Real Estate Investment Trust, a subsidiary of Yuexiu Property Co, is tapping the offshore market for a HK$2.8bn ($357m) loan.