Standard Chartered

Two issuers from the Middle East this week printed dollar deals with ease this week, covering a range of maturities from five to 30 years and demonstrating demand across the whole curve.

Abu Dhabi Crude Oil Pipeline, a wholly owned subsidiary and strategic asset of Abu Dhabi National Oil Co (Adnoc), has launched its $3bn dual trancher on Thursday with coupons set at the tight end of final guidance and books in excess of $11bn. Though an analyst said the levels offered looked fair, he said he was disappointed by the lack of transparency into Adnoc offered by the note.

The People’s Republic of China opened books on Thursday for its highly anticipated $2bn bond, its first issuance in the offshore dollar market in more than a decade.

Four banks have launched a $150m two tranche senior secured loan for Indonesian textile company Delta Dunia Tekstil (DDT). The company will use a portion of the funds for a new project in Java, Indonesia.

Turkish Fibabanka is heading off on a roadshow on Wednesday to market a five year dollar denominated bond. But with Turkish bank levels still elevated after local press reports that some Turkish lenders could be fined billions of dollars by the US for violating sanctions on Iran, the bank and its leads are hoping for a rally before pricing.

Nasdaq-listed China XD Plastics Co is in the loan market for a $300m financing, returning one year after signing its last deal.

Qatar is looking to issue a jumbo bond before the end of this year, but bond syndicates and DCM desks are agonising over whether it would be good business for them to work with the state, since it has been cut off by its neighbours.

Two credit rating downgrades of Dalian Wanda Commercial Properties (DWCP) have put its offshore loans in lenders’ cross-hairs. DWCP is talking to its lenders, who have the power to force an acceleration of payments. Shruti Chaturvedi reports.

The market for credit default swaps (CDS) in China is still in its very early stages, but the government is looking to promote their use and the first foreign bank has already got involved.

Lebanon energy trading company BB Energy signed a $225m revolving credit facility (RCF) on Wednesday to refinance a $200m facility from last year.

Arab Petroleum Investments Corporation (Apicorp) is embarking on investor meetings for a benchmark five year sukuk.

A $2.5bn refinancing by Reliance Industries (RIL) and its telecommunications arm, Reliance Jio Infocomm, has been opened to retail participants.