Central China Real Estate performed a savvy move on May 23 after it managed to slash interest costs by nearly half when it issued a $400m deal at 6.5% to fully redeem outstanding bonds that were printed at a 12.25% coupon three years ago. read more »
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22 May 2013
After a robust month so far in dollar denominated debt deals, bankers are relaxing this week as they wait for investors to digest the monster issuance from the region, especially from Chinese state-owned enterprises.
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22 May 2013
Citic Pacific’s reopening of its $800m perpetual bond less than a week after the original deal has stunned debt bankers. But it left some bond investors distressed after it triggered a drop in secondary prices. They might not like it, but the savvy approach has proved to be a winning one for the issuer.
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22 May 2013
Banco Itaú’s $750m loan will be closing next week, after the leads on the deal received a good response from both Asian and US lenders.
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22 May 2013
Electronic City Indonesia will start investor education for its IPO on Thursday, embarking on a global roadshow.
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22 May 2013
The bookrunners on Jindal Steel and Power’s $400m five year loan plan to open it to the general market on Monday (May 27), with two levels of commitments up on offer.
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22 May 2013
Aurizon Holdings’ A$3.1bn ($3.04bn) loan has been launched into syndication, in what bankers say is the biggest Australian dollar deal so far this year.
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21 May 2013
Indonesian cement company Semen Gresik is speaking to banks about a new loan, understood to be around $300m, following up on its announcement this month that it will build two new plants in the country.
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21 May 2013
Two jumbo convertible bonds hit the market on the same night this week following a lull in big CB transactions in Asia this year. The investment grade borrowers both got their deals away comfortably but took very different approaches to pricing and structuring.
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21 May 2013
Less than a week after Citic Pacific issued a $800m non-call 5.5 deal on May 14, the Chinese state-owned enterprise surprised investors by tapping that deal.
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21 May 2013
San Miguel Corp’s $1.3bn five year loan has now received 18 commitments for a total of more than $600m in general syndication, with the leads expecting to considerably scale back commitments.
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21 May 2013
Roadshows last week for Indonesia Eximbank’s $500m loan had a good response from potential lenders, with the deal already securing some early commitments in general syndication.
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21 May 2013
Fantasia Holdings Group and Powerlong Real Estate Holdings both managed to price three year dim sum deals on May 20, underscoring demand for offshore renminbi bonds but also raising questions over whether the market is becoming too saturated with high yield supply.
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21 May 2013
Goldman Sachs has sold the last of its stake in Industrial and Commercial Bank of China, raising $1.1bn in a block sale.
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21 May 2013
First Gulf Bank has joined as a mandated lead arranger on BFI Finance Indonesia’s $75m three year loan, with one more bank going through the credit approval process.
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20 May 2013
Singaporean property developer Guocoland priced the city state's first corporate perpetual bond so far this year, which received strong demand from yield-hungry investors who are also shying away from longer tenor transactions.
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20 May 2013
Piramal Healthcare has netted a fourth commitment for its $240m five year loan, with bankers planning to wrap up syndication by the end of the month.
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20 May 2013
China Harmony Auto started investor education for its $250m IPO on Monday in a deal that will test the appetite for mid cap mainland names after last week’s jumbo listings.
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20 May 2013
Eight banks have made commitments to Asia Symbol China Holdings’ $1bn self-arranged loan, while other lenders considering the deal have until June to join.
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20 May 2013
Springland International Holdings squeezed in a block deal just before Friday’s public holiday in Hong Kong. The secondary sale was a response to reverse enquiry but was offered at deep discount due to the size of the trade.
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17 May 2013
BOQ Equipment Finance, a subsidiary of Australian lender Bank of Queensland, priced its A$500m ($499.1m) REDS EHP 2013-1 Australia auto receivables securitisation early on Thursday, with the deal size increased to A$900m.
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20 May 2013
Citic Pacific plans to sign its $330m four year loan on Wednesday, after more than enough demand led to the company increasing the deal size from the original $200m.
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20 May 2013
Indonesian company Trakindo is in the market for a $150m five year revolver, less than two weeks after its financing arm signed a debut loan.
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20 May 2013
Malaysian conglomerate UMW Holdings plans to spin out its oil and gas subsidiary in a separate listing later this year.
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17 May 2013
Asia ECM bankers overcame a big hurdle this week as China Galaxy Securities priced its HK$8.3bn ($1.1bn) IPO convincingly, with the first jumbo deal to be completed in Hong Kong this year, landing big oversubscriptions in the institutional and retail tranches. But bankers are not celebrating just yet, recognising that success in the Hong Kong market will still be on a case-by-case basis, while investors remain cautious on China.
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17 May 2013
Chinese state-owned companies are flocking to Asia’s bond markets for the low interest rates and to grab the attention of yield-hungry investors, racking up a record $48.6bn so far this year, according to Dealogic. But China International Marine Containers (CIMC) upset an otherwise red hot market after a problematic execution forced bankers to pull the deal, writes Frances Yoon.
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17 May 2013
Asian bankers are thinking twice about pricing US dollar bonds beyond five years now that yields on 10 year Treasuries are creeping back up from their lowest levels since at least 2000, writes Frances Yoon.
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17 May 2013
The Thai Ministry of Finance (MoF) has vetoed South Korean banks from issuing Thai baht denominated bonds in the latest round of domestic market issuance applications because of the risks associated with a possible conflict on the Korean peninsula, writes Clare Hammond.
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17 May 2013
Bankers working on Alibaba Group’s jumbo $8bn loan have sent out invitations to lenders, ahead of a bank presentation scheduled for May 21. And although some lenders are complaining the minimum commitment of $200m is far too high, they are still willing to jump on the bandwagon, writes Rashmi Kumar.
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17 May 2013
AirAsia X has launched its long anticipated IPO, which could raise the airline around $300m. However, dealers were surprised at the airline’s decision to offer free flights to retail investors.
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17 May 2013
The rare appearance of a government-owned and systemically important name such as State Grid allowed the issuer to get the tightest spread on a five year tenor for a Chinese borrower for its three tranche Reg S/144A deal on May 15.
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17 May 2013
Noble Group signed its $2bn loan this week after more than 50 lenders made commitments in general syndication, joining the already long list of 21 bookrunners and mandated lead arrangers.