Standard Chartered

Ghana has bought back $200m of its outstanding 8.5% 2017s — just half of the targeted $400m. Emerging markets investors were happy to hold the bonds to maturity, said one on Monday.

Turkey’s Isbank has signed its second annual syndicated loan for $1.04bn-equivalent. Like recent deals for the sector, Isbank’s loan includes a margin ratchet if the bank is downgraded.

Mercuria Asia Group Holdings and Mercuria Energy Trading are gauging interest from lenders for a joint loan of $900m, according to bankers.

French asset manager Tikehau Capital has completed its first syndicated loan, drawing support from eight banks, following a run of equity and debt raisings.

State Bank of India (SBI) succeeded in pricing the first offshore Basel III additional tier one (AT1) offering from an Indian name this week, but a bullish pricing strategy meant orders were muted and it has struggled in secondary. Despite the glitches, many believe the deal has set an important benchmark, writes Addison Gong.

The yen market, for so long held back by an in-built caution as well as unfavourable swap rates, is rapidly re-establishing itself as crucial source of capital for some of the world’s biggest banks.

State Bank of India launched the first-ever offshore Basel III compliant additional tier one (AT1) bank capital offering from an Indian name on Wednesday, a deal market participants expect to set the pricing benchmark for future Indian lenders from this asset class.

Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.

The prospect of the first international bank capital trade from India is closer with State Bank of India on the road this week for a dollar-denominated additional tier one. While it has picked a good window, it needs to get the pricing right or risk derailing the rest of the market.

Industrial Bank Co has thrown open books for a dual-tranche dollar offering following a series of fixed income investor meetings at the start of the month.

HSBC looked set to follow Standard Chartered in issuing yen-denominated senior bonds from its holding company, as the country’s regional investors weigh up the benefits of buying into riskier transactions.