Standard Chartered

Fixed income specialist SC Lowy and UOB Asset Management are set to launch a $400m CLO that will consist predominantly of bank loans from Asia Pacific issuers.

A $300m three year loan for Development Bank of the Philippines (DBP) has received commitments from 15 lenders.

With foreign ownership of Chinese bonds still at very low levels, the decision to open China’s interbank bond market (CIBM) could truly alter global investment strategies. But, at least for now, the devil will be in the details, with analysts saying that foreign ownership is unlikely to surge in the short term.

A $925m refinancing for Birla Carbon has received commitments from eight banks, taking the total number of incoming lenders to 10. The loan, which has been in syndication for three months, is likely to be allocated in early March.

A $400m loan for Wanda Commercial Properties Hong Kong has opened into senior syndication, with the deal coming just days after Moody’s revised the company’s outlook to negative from stable.

Last year was not kind to Standard Chartered, a bank known for its emerging markets, commodities-focused business model and in the teeth of a brutal restructuring. The bank reported a full year loss of $1.5bn on Tuesday, after swallowing $1.8bn of restructuring charges.

Bankers are in discussions with a Nigerian corporate for an acquisition loan, representing welcome fodder for a depleted market, although the deal may not make it over the line, according to sources.

Export-Import Bank of Korea demonstrated its sophistication in the bond market on Wednesday with what market participants believe is the first single tranche dollar bond to be listed in both Singapore and Taiwan. Kexim’s success is set to encourage more high quality foreign issuers to follow in its footsteps.

State Bank of India has picked banks for a fresh $500m fundraising that is expected to launch into syndication in the next couple of weeks.

Chinese authorities are set to announce a third batch of free trade zones (FTZs) this year with the preference likely falling on Western provinces. Meanwhile, the regulators have laid out more plans for the original pilot in Shanghai, aiming for the city to become the first to test full liberalisation of the capital account.

After a rough ride for Zambian loans and bonds in recent months, state-owned power firm Zesco will finally sign its delayed seven year loan this week.

Export-Import Bank of Korea (Kexim) opened books on Wednesday for a single tranche dollar bond to be dual listed in Singapore and Taiwan. While the Korean issuer has taken this approach before in offshore renminbi, sources close to the latest deal say this is the first of its kind in dollars.