Standard Chartered

Glencore, the UK commodity trading company, captured the corporate bond market’s attention on Wednesday with the first test of demand for a cyclical credit since the summer break. Investors jumped at the deal, with leads launching it flat to the borrower’s curve.

Philippine oil refining and marketing company Petron is seeking lenders’ consent to make amendments to two of its old borrowings, following an initial warning in July.

Mercedes-Benz Auto Finance is planning to sell a Rmb6.26bn ($917m) dual tranche auto securitization transaction next week after a six-month break from the onshore market. The issuer has doubled the length of the revolving period compared to its previous outing.

The Arab Republic of Egypt has secured its debut syndicated conventional and Islamic facility from a range of local and international lenders as it attempts to support the state budget, which has come under major pressure during the coronavirus crisis.

Following a trailblazing issuance from Abu Dhabi last week, the Emirate of Dubai has mandated banks to arrange a dual tranche offering, including a sukuk — its first international DCM outing since 2014. Qatar’s Ahli Bank was also in the market on Tuesday, launching a benchmark dollar bond.

ABC International Holdings took advantage of receptive market conditions to make a rapid return to the bond market this week.

A $600m loan to support Baring Private Equity Asia’s take-private of Indian software firm Hexaware Technologies has been launched into general syndication, with three banks joining at the top level.

Rating: Aa2/AA/AA

Abu Dhabi brought the CEEMEA debt market out of holiday mode this week by stunning investors with a new 50 year bond — the longest ever seen in the Gulf. The deal not only cemented Abu Dhabi's standing as a top-tier credit on a level with developed market sovereigns, it also raised expectations for a flurry of longer-dated issuance from states across the Gulf region. Mariam Meskin reports.

The European Investment Bank mandated banks on Thursday for the first Sonia floating rate note linked to the Bank of England’s new compounded Sonia index which was launched earlier this month.

Korea Expressway Corp made its debut in the Kangaroo market this week, taking A$450m ($324.6m) from a dual tranche deal.

Masraf Al Rayan, one of the largest Islamic banks in Qatar, was out on Wednesday with its second international sukuk. The deal is also the second from CEEMEA to hit the market following the brief summer lull.