Standard Chartered

The Republic of Côte d’Ivoire’s plans to issue the first euro denominated trade from sub-Saharan Africa is dividing the market. Some see the trade as a sensible move to fund in the country’s “natural currency” while others argue that the trade could be a warning sign that we are reaching the top of the bull run.

Investor appetite for yield and renewed confidence in the Nigerian financial sector helped United Bank for Africa (UBA) size an inaugural dollar bond at the top end of the target range on Thursday.

United Bank of Africa (UBA) is set to become the second Nigerian lender to tap the dollar market in less than two weeks after emerging with pricing for a debut five year deal on Thursday.

Ivory Coast is using the strong investor bid for sub-Saharan Africa to fund in euros, to which its currency is pegged, and to reduce its dollar liabilities with a buyback. The deal is the latest example of borrowers from the region making smart use of the larger box of funding tools now available to them.

The Export-Import Bank of China (Chexim) is set to hold investor calls for a euro fixed rate five year bond and a dollar floating rate three year. India’s Canara Bank, meanwhile, will meet accounts in Asia and Europe for its first dollar outing since 2013.

A $651m loan for Cairn India Holdings was launched into general syndication on Monday, with the deal divided into four portions based on the different purposes of the fundraising.

Media Nusantara Citra has enlisted three lenders to syndicate a $200m loan that refinances a borrowing from 2014.

A $400m borrowing for Malaysia's CIMB has had strong reception during general syndication, with over a dozen banks lining up.

A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from two banks. The leads on the loan had invited lenders to join as sub-underwriters in March.

Kookmin Bank has become the first South Korean commercial lender to sell a dollar bond in the Taiwanese market, and it did it with style, finding more than enough demand to boost its deal size.

Standard Chartered has become the first non-Chinese bank in Singapore to close a dollar-renminbi FX forward trade via the onshore China Foreign Exchange Trade System (CFETS), the firm said in a statement on Thursday.

Oman made its public market sukuk debt on Tuesday to raise $2bn with a well-supported trade. While bankers on the deal argued that Oman achieved a “sukuk discount”, others said the deal came flat to its conventional curve.