Standard Chartered
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Investors flocked to Indian credits on Thursday, as UPL Corp and Muthoot Finance sealed new dollar bonds in a busy market. -
Three Chinese issuers visited the dollar bond market on Thursday, raising $1.2bn between them.
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Chinese delivery services company SF Express is planning to repay a HK$5bn ($640m) loan sealed in September 2019 with the proceeds of a longer tenor bond issued last week.
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Dubai Islamic Bank is embarking on a roadshow having mandated nine banks for a long five year or seven year dollar benchmark sukuk.
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Dar Al Arkan Real Estate Development Company moved beyond the usual five year tenor it normally issues at on Wednesday, making the most of investors’ willingness to take on longer maturity paper.
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China Huarong Asset Management Co courted investors with a four-tranche deal this week, mixing fixed and floating rate tranches.
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International bond volumes from India so far this year have almost doubled from the same period in 2019, showing the strength of the country’s issuers as they continue to emerge from a turbulent period. Debt bankers are optimistic that India is set for a strong 2020, writes Morgan Davis.
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Tanzania’s Ministry of Finance has raised a $1.46bn loan — its largest foreign loan to date — to finance the construction of a railway from Dar es Salaam to the centre of the country. The loan is being provided by a number of development banks and credit agencies.
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Chinese corporations bombarded investors with new bond options on Wednesday, allowing three issuers to raise $625m between then. Hong Kong-based asset manager ESR Cayman joined the fray in Singapore, grabbing S$225m ($161.55m).
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The Islamic Development Bank hit the market for a five year dollar benchmark on Wednesday, raising $2bn at a spread of 40bp to mid-swaps.
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Delhi International Airport (Dial) returned to the bond market with a tap of its 2029 notes on Tuesday, taking $150m from investors.
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Riyad Bank has tightened price guidance on its 10 year non-call five tier two bond, with order books at over $4.8bn for the note.
