Standard Chartered
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Indonesia’s Sarana Multi Infrastruktur (SMI) has mandated five banks for a planned $500m refinancing loan. But bankers on the deal warn the terms could change due to uncertain market conditions. -
Kookmin Bank has become the first issuer from South Korea to sell an international public bond to combat the fallout of the Covid-19 pandemic. While virus-response deals are still just a tiny part of Asia’s debt market, bankers say it is set to grow.
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Sweden’s Alfa Laval has amended its revolving credit facilities, with the heavy industry products maker consolidating two old deals into one €900m revolver.
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Chinese chemical company EcoGreen International Group has returned to the offshore loan market after a three year break for $150m.
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Fashion retailer H&M has signed a €980m revolving credit facility to sit alongside its existing main bank line, as the Swedish company becomes the latest to turn to the bank market to bolster its finances during the coronavirus pandemic.
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The State of Qatar and the Emirate of Abu Dhabi looked to sell bonds this week in the wake of extreme oil price volatility that has left commodity exporters with fragile fiscal positions.
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The top tier of emerging markets sovereigns are cramming into this week’s issuance window, as Abu Dhabi followed Qatar’s Tuesday blowout with a triple tranche bond deal of its own.
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The Republic of Indonesia raised $4.3bn from a triple-tranche bond this week, making quick progress in its effort to fund a fiscal stimulus package that it hopes will soften the damage of the Covid-19 pandemic. Morgan Davis reports.
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Nomura has hired a new head of investment banking for Southeast Asia.
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Korea Development Bank raised $500m in a floating rate bond on Tuesday, opening the international debt market for other South Korean issuers.
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The State of Qatar on Tuesday issued a $10bn three tranche bond, with a final demand book in excess of $44bn. The deal came in the wake of extreme oil price volatility, though Qatar has buffers to protect it against any major economic shocks.
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The Republic of Indonesia turned to the bond market on Monday to fund its Covid-19 relief efforts, raising $4.3bn from a triple-tranche deal. Investor demand for long-dated tenors encouraged the country to offer a 50 year note as part of the trade, making it a first for Asian sovereigns.
