Standard Chartered
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India’s Adani Ports and Special Economic Zone has bagged $650m from 144A/Reg S bonds to fund a tender offer of notes due next year, pricing the new issuance at a competitive level. -
The Bank of Montreal followed Toronto Dominion’s lead on Wednesday to join the Canadian bail-inable Kangaroo frenzy, placing A$750m of five year debt.
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A wave of issuers — mostly Chinese — including China Mengniu Dairy Co and local government financing vehicle Guangzhou Development District Financial Holdings flooded the bond market on Thursday, riding the positive sentiment after the US Federal Reserve chairman Jerome Powell signalled a rate cut later this month.
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Chinese local government financing vehicle (LGFV) Tianjin Binhai New Area Construction & Investment Group Co’s decision to postpone a planned three year bond has highlighted the debt crisis in the Tianjin area.
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Genius Auto Finance, a joint venture between Geely Automobile and BNP Paribas Personal Finance, is planning a return to the auto loan ABS market on July 18 with a Rmb4bn ($581.6m) four-tranche deal.
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DP World on Thursday launched a new $1bn 10 year sukuk and $300m tap of its $1bn 5.625% September 2048s, both with negative new issue premiums.
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The Republic of Tunisia printed a tight €700m 6.375% 2026 bond on Wednesday from a book of nearly €2bn. A syndicate manager away from the deal said it was a good demonstration of the enthusiasm for emerging market credit.
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BMW returned to the Panda bond market on Wednesday, raising Rmb3.5bn ($509m) from a privately-placed deal. The shortest tranche got plenty of demand from local investors, helped by flush short-term liquidity.
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Vietnam Prosperity Joint Stock Commercial Bank (VPBank), a private sector lender, raised $300m from its international bond debut this week. The deal was helped by the scarcity of supply from Vietnam, but finding the right price proved a challenge for those on and off the deal.
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United Laboratories launches HK$1bn loan — Goshawk seeks $500m in Asia — West China Cement returns for $150m — Wolong debuts in euros — Jingneng Clean Energy pays up for comeback
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Indonesian state-owned Perusahaan Listrik Negara (PLN) sold $1.4bn of bonds this week, split equally between 10 year and 30 year tranches, pricing both slightly inside fair value.
