Standard Chartered

Hong Kong-listed Car was caught in the eye of an onshore storm this week as bond investors retreated after initial excitement over the central bank’s move to boost liquidity. But the borrower found joy elsewhere — from a visit to the dim sum bond market. Noah Sin reports.

Chinese technology giant Huawei postponed its debut euro bond late on Wednesday after final terms had been released, following news of a US investigation into whether the company had violated sanctions against Iran. While Huawei had enough support to go ahead with its transaction, it put the deal on the back burner to maintain its standing with investors, said bankers. Morgan Davis reports.

The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.

Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before.

United Asia Finance, a personal loan provider in Hong Kong, is making a quick return for a HK$1.6bn ($203m) term loan, just two months after sealing its last borrowing.

Turkish participation bank Albaraka Turk added around $100m to its murabaha loan during syndication after signing the final deal at $318m-equivalent.

Pelabuhan Indonesia III, also known as Pelindo III, raised $500m from a single tranche five year bond on Tuesday after scrapping a 10 year portion that was also marketed.

Philippine National Bank, a rare credit in the offshore bond market, raised $300m from a new transaction on Thursday. But despite the novelty value of its deal, investors still demanded a new issue premium.

Two banks have poached members of BNP Paribas’ emerging markets sales and trading team.

Chinese investment banking giant CICC returned to the dollar bond market this week, raising $600m from its first deal in almost two years.

Several Chinese real estate companies, including Sunac China Holdings and Central China Real Estate, took advantage of relatively stable markets to ride the dollar issuance momentum this week. But supply pressure meant that many saw their bonds then trade under water.

China’s Guangzhou R&F Properties Co, the once troubled China Hongqiao Group and a local government-owned entity in Xinjiang all managed to pull off new dollar bonds on Tuesday, albeit with some difficulty.