Standard Chartered
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Agricultural commodities trader ED&F Man has signed three revolving credit facilities totaling $1.128bn, bringing the UK company’s committed funds to more than $2.4bn at a time when the company’s sugar and grains businesses have taken a hammering. -
German car manufacturer Daimler and Chinese auto rental company Car debuted in the offshore renminbi market this week, raising Rmb1.4bn ($223.2m) between them.
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BoCom International, the Hong Kong unit of China’s Bank of Communications, has launched a new HK$4bn ($509m) loan into general syndication, just weeks after its Macau unit opened a $500m club-style deal.
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The Kingdom of Bahrain has squashed its plans to issue conventional bonds but is forging ahead with its long seven year sukuk, putting out initial price guidance for the deal.
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The UAE’s largest private healthcare company, NMC Healthcare, has signed a $2bn loan with a club of international banks, continuing a growing trend of Middle Eastern private companies entering the syndicated loan market.
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Saudi Arabia has had to scale back banks grappling to get on its $16bn loan, which will be used to refinance a $10bn loan taken out in 2016.
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Syndicates away from the Kingdom of Bahrain's new issue are saying that a huge widening in the sovereign’s outstanding bonds is indicative that investors are “not happy” to see the new paper arriving, though those on the deal are simply blaming market volatility.
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Chinese auto rental company Car made its debut in the offshore renminbi bond market on Monday, but had to settle for a modest deal size in exchange for an aggressive price.
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Turkish participation banks Albaraka Türk and Vakif Katilim have kicked off the global syndication of two murabaha facilities.
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Four Chinese issuers hit the market with new transactions on Monday, despite the credit market ending on a weak note last week. As the companies try to make use of their remaining fundraising quotas, the focus remains on new issue premiums.
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Kuwait’s Burgan Bank has signed a $350m loan with a club of seven relationship banks to refinance borrowing done in 2015.
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Credit Suisse has appointed a second head of China investment banking and capital markets (IBCM), according to a memo seen by GlobalCapital Asia on Thursday.
