Standard Chartered

Ghana’s Cocobod, Stanbic Kenya and Stanbic Zambia will all sign syndicated loans next week, according to bankers on the deals.

Respondents to a new survey by Standard Chartered Hong Kong branch (StanChart HK) are expecting further devaluation of the RMB, but an even larger proportion said they would continue to hold or even expand the quota of RMB-denominated assets in their portfolios.

Asian bond issuers have finally decided to venture back into the market with a trio of investment grade names opening books to dollar deals. Export-Import Bank of China (Chexim), Shanghai Pudong Development Bank and Korea Development Bank are vying for attention in the first test of investor demand in three weeks.

Egypt’s Banque Misr is planning a loan for around $200m and will mandate lead banks next week, according to an official in talks with the bank.

Abu Dhabi's Union National Bank has closed books for its three year loan and will increase it from the launch size of $500m, according to a banker on the deal.

Standard Chartered has hired a new syndicate banker for its London desk.

Indian pharmaceutical major Biocon, which approached the overseas loan market in July for a $200m loan, has seen five lenders join the syndicate.

The Standard Chartered RMB Globalisation Index (RGI) rose 2.3% in July, on the previous month — its first positive result in four months — despite the stock market rout that has weighed on Chinese market sentiment, the bank said in a September 8 report.

Judy Hsu is taking over as Standard Chartered's chief executive for Singapore from October 1.

Onshore Chinese corporates are generally bearish on the short-term outlook for the economy as sentiment remains fragile, according to a new report from Standard Chartered. Companies are also predicting the renminbi will weaken by year end with the increased volatility increasing their interest in managing FX risk.

Property developer HKR International has increased the size of its borrowing to HK$8bn ($1.032bn) to accommodate the 14 lenders that have formed the syndicate group.

Kingboard Chemical Holdings has increased its borrowing to HK$6bn ($773m) from a launch size of HK$5bn, after 18 banks came on board during general syndication.