The Saudi-headquartered Islamic Development Bank is set to sell a dollar bond on Wednesday, having launched the deal on Tuesday. The sustainability sukuk is one of two FIG deals from the Gulf region this week, as Kuwait’s Boubyan Bank also entered the market for a dollar sukuk.
The Republic of Ghana, one of the few African sovereign entrants to tap capital markets last year, has mandated banks to arrange a dollar bond this week. The multi-tranche bond, market participants say, will demonstrate investors’ appetite for high yield credit.
Investors holding over a quarter of the Province of Buenos Aires’ international bonds said they would “vigorously pursue” the legal proceedings that they began on Tuesday against Argentina’s largest province, which has been in default since April 2020. But bonds rallied as some saw the move as a sign that a resolution was nearing.
Mercedes-Benz Auto Finance has priced the senior tranche of its Rmb8.337bn ($1.28bn) auto loan ABS deal in China at an aggressive spread over the onshore benchmark and comparable trades.
China SCE Group Holdings managed to raise $300m from a narrow issuance window on Tuesday, just as sentiment started to sour around the country’s high yield property bond market.
Bank Negara Indonesia sold a rare Basel III-compliant tier two dollar bond on Tuesday, raising $500m.
GLP China Holdings received a stronger reception than expected for its bond outing this week, allowing the logistics company to raise $700m with a small premium.
South Korea’s Daewoo Engineering & Construction Co has raised a $200m loan consisting of conventional and Islamic financing tranches, in a deal driven by Middle Eastern banks.
Hong Kong-based Jeneration Acquisition Corp, a special purpose acquisition company (Spac), is planning to raise $300m from a Nasdaq IPO.
Singapore-listed Manulife US real estate investment trust has raised a $250m five year sustainability-linked loan from two banks.