Standard Chartered

General Motors’ joint venture sealed a Rmb10.4bn ($1.62bn) deal in the Chinese securitization market on June 6, marking its biggest outing so far. Bankers on the deal said the auto company wanted to bag the cash before onshore rates come under pressure in the second half of the year.

Temasek Holdings returned to the securitization market this week after a two year hiatus to woo investors into private equity funds-backed Astrea IV. Institutional investors are already in the bag. The focus now is on winning over retail accounts — the first time such a deal has been open to the city-state’s public, writes Addison Gong.

Institutional investors piled into Singapore sovereign investment arm Temasek Holdings’ Astrea IV securitization, making the deal almost four times covered. All eyes are now on appetite among retail investors, as it’s the first time a private-equity backed trade is open to the public.

Industrial and Commercial Bank of China’s London branch issued a $1.5bn-equivalent green bond on Tuesday, becoming the third big Chinese bank to hit the offshore debt market with floating rate notes in less than a week.

Singapore sovereign wealth fund Temasek Holdings is set to take the securitization market to the next level, seeking three tranches of rated notes worth $500m-equivalent through Astrea IV. A local currency-denominated tranche will also be opened for subscription to retail investors later this week.

The Panda bond pipeline is bursting at the seams with red chip Chinese names and SSAs preparing for renminbi deals, prompting some in the market to predict a new era of growth for the asset class.

General Motors’ Shanghai-based joint venture is gearing up for its biggest securitization transaction in China. The Rmb10.4bn ($1.62bn) notes will be up for grabs not only for onshore investors, but also those tapping the market via Bond Connect.

Jitters around Italy’s political turmoil made its way to Asia’s bond and stock markets on Wednesday, forcing debt capital markets bankers in the region to hit the pause button on deals.

State Bank of India has launched a new $750m three year borrowing into general syndication, about two months after mandating banks to run the transaction.

Philippine firm Rizal Commercial Banking Corp is seeking a $300m offshore loan via five mandated lead arrangers and bookrunners, according to a banker with knowledge of the deal.

Leonard Ng has joined Standard Chartered’s debt capital markets team in Singapore.

Big bank M&A is a fun parlour game. If one tires of discussing whether one hundred duck-sized horses could overpower one horse-sized duck, or which West Ham line-up 1980-present was strongest (2000-02 - Ed) it's always worth speculating about who ought to be buying who and why.