Standard Chartered

Hong Kong Telecommunications (HKT) proved this week that investors are still eager to buy bonds issued by companies with a focus on the Hong Kong SAR, despite the ongoing political turmoil. But that confidence will face a big test as names such as Cathay Pacific and Li & Fung get ready to hit the market. Addison Gong reports.

South Korea’s Woori Bank has raised $550m from a Basel III-compliant additional tier one bond sale. Despite the softer market backdrop, the firm pulled off the deal without paying any premium.

Malaysia's CIMB Bank used Taiwan’s Formosa market to sell a $680m bond linked to Sustainable Development Goals (SDG), giving the borrower a pricing advantage over the international debt market.

Islamic Development Bank on Wednesday priced a five year sukuk bond, coming to market alongside Samba, a Saudi Arabia based bank. The deals are the latest in a flood of Middle East issuance that has raised $13.35bn this week alone.

Three borrowers from the Middle East came to market on Tuesday, raising a combined $3.35bn from five tranches across the curve. The deals come on top of a period of heavy supply, including Abu Dhabi’s $10bn triple trancher on Monday.

Investors gobbled up Hong Kong Telecommunications (HKT)’s $500m bond outing, despite a busy day for new issuance and the ongoing turmoil in the Hong Kong SAR.

Chinese companies came to the international bond market in force on Tuesday, just days ahead of a week-long holiday in the Mainland to celebrate National Day.

State-owned Metallurgical Corporation of China (MCC) is seeking a debut $300m offshore loan for a project in Papua New Guinea.

Bankers brought a flood of Middle East bond supply to market on Tuesday, with four separate issuers — the Kingdom of Bahrain, DP World, National Bank of Fujairah and Islamic Development Bank — all announcing guidance for deals. The notes follow an already heavy week of supply from the Gulf, with Abu Dhabi having printed a $10bn triple trancher on the same day.

Strong investor appetite for Thai bank capital deals helped Kasikornbank beat expectations with its $800m Basel III-compliant tier two bond.

Two Chinese companies tapped dollar bond investors on Monday. One of the most active issuers this year, Zhenro Properties Group, came out with an aggressively priced $300m transaction, while a district-level government financing vehicle sold its debut offshore deal.

Korea Development Bank made a billion-dollar outing in the global bond market, and got away with offering very little premium to investors wooed by its safe haven status.