Standard Chartered

HSBC and Standard Chartered are each working on their debut Panda bond issuance, aiming to launch the deals at end of September at the earliest, several sources have told GlobalRMB. If the deals come out as planned, these will also be first Panda offerings from financial institutions.

India’s IDFC is in the market for a $300m fundraising to refinance overseas debt, with the loan now in limited syndication.

In an unexpected move, Dubai Islamic Bank (DIB) pulled out of Albaraka Türk’s latest $450m murabaha loan because it did not think the loan was Shariah compliant, according to two bankers on the deal.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has wrapped up and allocated its latest borrowing of $200m, double the launch size, despite struggling to gain traction in the beginning.

Indonesia's Mitra Pinasthika Mustika Finance has tasted success with its maiden outing in the offshore syndicated loan market, increasing its deal to $150m and establishing relationships with lenders across Asia.

Chinese property developer Gemdale Corp is in the market to buy back $500m worth of bonds as the company seeks to optimise its capital structure.

Turkish participation bank Albaraka Türk has signed a $450m-equivalent one year loan, which it increased from the $400m launch size.

Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) is understood to have increased the size of its borrowing to $200m — double the launch size.

China Securities (International) Finance Holding Company has opened books for its debut offshore bond, while Qingdao City Construction Investment (QCCI) is planning to issue a senior perp for its second international outing this year.

Korea Development Bank (KDB) staged a successful return to the international debt market on September 9, selling an SEC registered 10 year trade. The policy bank’s success is expected to encourage more Korean names to follow suit, but bankers are not necessarily expecting a rush of issuance.

Axis Bank has begun sounding out lenders for a $274m loan related to Indian pharmaceutical firm Strides Arcolab's recent acquisition in Australia.

Philippines’ Petron Corp, which recently amended covenants on a 2014 borrowing, has hit the market for a $550m refinancing that was funded in July.