Standard Chartered

Lifestyle International Holdings has returned to the loan market for a HK$8bn ($1bn) fundraising after a gap of nearly five years. The borrower, which operates the well-known Sogo department stores, has opted for a syndication instead of a club deal, with the rarity element of its name helping find to attract interest. Shruti Chaturvedi reports.

China's GF Securities, which made its debut in the offshore syndicated loan market in 2014, is in talks with seven lenders for a fresh borrowing.

Truly International, the holding company of LCD panel maker Truly Group, has tied up a HK$4.5bn ($580m) four year financing with a group of nine banks.

Wuxi Construction and Development Investment Co kept momentum going for Chinese local government financing vehicles, pricing a new $300m three year bond on Monday. Onshore bank treasuries drove the transaction but high quality offshore investors, who typically stay away from a keepwell structure, also participated.

A subsidiary of Lifestyle International Holdings, which operates department stores under the Sogo brand, has launched a HK$8bn ($1bn) loan into limited syndication.

Indonesian state-owned Sarana Multi Infrastruktur has capped its latest borrowing at $175m despite an oversubscription that saw demand close to $600m come in.

Wuxi Construction and Development Investment Co kicked off bookbuilding on Monday for its first appearance in the offshore bond market. It is expected to be followed shortly by Jiangsu Hanrui Investment Holdings, which has mandated banks for its maiden dollar trade.

China Development Bank sold a $1bn bond on Thursday, wrapping up its third offshore outing of the year. Thanks to its quasi-sovereign status as well as savviness in timing, the policy bank managed to catch an opportune window for issuance.

Asia’s bond markets have remained resilient despite a Federal Open Market Committee meeting this week and rising concerns about the UK referendum on European Union membership. With deal flow building up for next week, bankers said Asian issuers stand to benefit from volatility in Europe, writes Narae Kim.

Minsheng Financial Leasing has set its sights on the international bond market, mandating banks to work on its debut dollar offering.

Richard Holmes, Standard Chartered's European chief executive, will leave the bank in August.

Islamic Corporation for Development (ICD) is planning a $250m private placement (PP) in July which will bring it close to its full funding requirement for the year.