Standard Chartered
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Europe’s high grade corporate bond investors had an array of novel trades to consider on Monday, with debutants and a rare antipodean issuer marketing euro transactions. -
South African lender Absa has mandated banks for an additional tier one dollar offering. Absa is the latest domestic bank to enter international debt markets despite the absence of the sovereign.
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Chinese state-owned Sinochem Group, an oil and chemicals company, has returned to the loan market after one year for a $500m deal.
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Three Chinese companies decided to tackle their refinancing needs on Monday with new bonds, grabbing a short issuance window ahead of a public holiday in Hong Kong and some other Asian markets on Wednesday.
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Standard Chartered has lost its Asia head of primary ABS, GlobalCapital has learnt.
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Barclays returned to the Kangaroo bond market this week after being absent for two years to raise A$600m across three tranches of holding company debt. The market was split over which tranche offered the most value in pricing.
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SAIC-GMAC Automotive Finance Co priced a Rmb10bn ($1.56bn) auto loan ABS transaction this week, its third outing in China in 2021, switching to a simple structure comprising a senior and a subordinated tranche.
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Volkswagen Finance (China) Co came to the onshore auto ABS market for the first time in 2021 with a Rmb5.97bn ($929m) transaction this week, slashing the revolving period to three months to achieve a competitive pricing.
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The rapid pace of new dollar bond issuance from Chinese property companies continued from Monday into Tuesday as four more borrowers joined the fray.
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One of China’s big four banks, Agricultural Bank of China, and securities house Haitong International Securities Group joined the flurry of Chinese bond deals in the offshore market this week.
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Chinese conglomerate Fosun International has sold its second dollar bond of 2021, raising $500m once again.
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Barclays is set to end a two year absence from the Kangaroo bond market this week, as it seeks up to three tranches of callable senior debt.
