Primary Credit Watch

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ASIA RECAP

  • ICBC sells $500m 5Y notes at +120bps, IPT +145 area
  • China Aoyuan sells $250m 3Y bonds at 10.875%, IPT 11.625% area
  • Hsin Chong prices $50m tap of 8.75% 2018 bonds at 101.25, IPT 8.365% area
  • Beijing State Owned Assets sells $300m 5Y at +160, IPT +185, $700m 10Y at +205, +230 area
  • Westpac sells $1b 3Y fixed bonds at +65, IPT low +70 area; $500m 3Y FRN at 3mL+43; $1b 5Y fixed bonds at +80, IPT high +80 area

UPCOMING DEALS

  • ANZ Mandates Banks for USD 5Y 144a/Reg S Covered Bond Lender mandates ANZ, GS, HSBC, RBC CM.  Expected issue ratings: Aaa/–/AAA
  • ICBC Singapore to Sell $Bench 3Y Bonds, IPT +125bp Area (2.20% YTM)
    Issuer: Industrial & Commercial Bank of China Ltd, Singapore Branch
    Issuer ratings: A1/A/–
    Expected issue rating: A1/–/–
    Reg S senior unsecured
    UOP: Finance Issuer’s operations, GCP
    JLMs/JBRs: ANZ, Citi, DBS Bank, ICBC SG, StanChart
    Co-manager: ICBC Malaysia
  • Starhill Global REIT to Sell SGD125m 8Y Bonds, IPT 3.4% Area
    Issuer: Starhill Global REIT MTN Pte. Ltd.
    Guarantor: HSBC Institutional Trust Services (Singapore) Ltd. (in its capacity as trustee of Starhill Global Real Estate Investment Trust)
    Expected issue rating: –/BBB+/–
    Reg S
    UOP: Refinancing and/or for working capital
    JBRs: DBS, RHB Sec

 

Category : Rates/Bonds
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