Standard Chartered

The Republic of Indonesia has picked 10 banks for a 2016 bond panel and mandated four of them to work on a dollar offering that could raise up to $4bn.

Asia’s nascent covered bond market welcomed Korea Housing Finance Corp’s first transaction in more than two years on November 12. Thanks to strong support from US and European investors, books built strongly and allowed the issuer to price inside its fair value.

Standard Chartered is continuing to make a raft of changes to its business, dismantling its project finance operations in Hong Kong and seeing some senior departures.

Deutsche Bank has hired the ex-head of European capital markets at Standard Chartered for a role managing conduct and controls.

Standard Chartered has replaced Carsten Stoehr, the bank’s former global head of financial market sales, who resigned from the firm last week.

Kenya is offering to pay a margin 45bp higher than on its last loan, signed in 2012, as it syndicates a new $600m two year financing. The loan is drumming up strong interest.

The Republic of Cameroon’s $750m 9.75% amortising dollar 2025s were bid around a point lower than reoffer on Monday morning, as lead managers Société Générale and Standard Chartered Bank released book statistics for the trade.

Aaron Russell-Davison, who recently resigned as the head of DCM at Standard Chartered and was seeking another position within the bank, has officially left the firm.

Sri Lankan conglomerate John Keells has finally signed its $395m resort financing that spent nearly a year in syndication. The facility was delayed after the country’s new government changed rules on casino licences, which meant banks had to rethink the loan to take into account the absence of casino revenues.

China Huarong Asset Management navigated a crowded Asian dollar bond market with a chunky $1.8bn deal on November 12. The trade was a replica of a highly successful transaction it executed at the start of the year.

Standard Chartered is understood to have dismantled its Hong Kong-based project finance team that focused on Greater China, making the division the latest to fall prey to the bank’s restructuring.

Korea Housing Finance Corp (KHFC) has returned to the offshore debt market with its first covered bond in more than two years, with strong demand allowing the issuer to achieve its pricing and diversification aims.