Standard Chartered

India’s Tata Steel and Birla Carbon have decided not to syndicate their chunky loans, amid reluctance from the bookrunners to sell down their positions in a slowing market for deals.

TVS Supply Chain Solutions, a subsidiary of Indian industrial conglomerate TVS Group, has mandated three banks for a $185m loan that will be syndicated to a small set of banks.

Chinese property developer Jingrui Holdings made its first dollar outing of 2020 on Wednesday, raising $180m from the bond.

Genius Auto Finance, a joint venture between Geely Automobile and BNP Paribas Personal Finance, will follow BMW and SAIC-GMAC and sell a Rmb4bn ($574.2m) three tranche deal on March 10.

TCC Group, controlled by Thai billionaire Charoen Sirivadhanabhakdi, has agreed a $10bn two year loan to support its bid for Tesco’s Asian assets.

SAIC-GMAC will sell a Rmb3bn ($430m) auto loan deal next week, marking its first securitization this year.

Dubai Islamic Bank, which began roadshows over a week ago for a senior unsecured sukuk, has postponed the deal as a result of the Covid-19 virus, according to bankers near the deal. The spread of the virus has caused sharp swings in global markets, causing havoc in primary markets.

Indonesia’s Buana Finance has returned to the offshore loan market after five years, seeking a $73m loan.

Zhejiang Geely Holding Group Co netted $400m from its bond sale on Thursday, as the market battled falling sentiment.

Three Chinese real estate developers braved a volatile market on Thursday, raising $800m as fears around the coronavirus continued to ravage secondary prices.

The European Investment Bank (EIB) braved “horrendous” market conditions in order to print the first Sofr trade linked to the Federal Reserve’s index.

HSBC and Standard Chartered are expecting lower profits and higher loan impairments this year due to the Covid-19 coronavirus outbreak and an economic downturn in Hong Kong.