Standard Chartered
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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. -
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.
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DP World has updated price guidance for its new 10 year benchmark sukuk and $200m tap of its 2048s, with order books already a healthy size for both deals.
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The initial guidance for the Reg S/144A deal was put out at 6.875% area on Wednesday morning in London.
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Haitong International Securities Group sold $700m of seven year notes on Tuesday, tightening pricing by 30bp during bookbuild.
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DP World is embarking on a roadshow to market a new 10 year benchmark Reg S dollar sukuk. It is also considering long dated Reg S-only dollar funding.
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Beijing Jingneng Clean Energy is offering a slightly higher margin on a new HK$3bn ($385m) loan, compared to a green loan sealed last year.
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Shimao Property Holdings and China Overseas Land and Investment took advantage of a strong market backdrop and renewed investor interest in duration to price seven and 10 year bonds, respectively.
