Primary Credit Watch

  • Global Logistic Properties Plans USD Bond Via Citi, DB, DBS

Meetings in Singapore, HK and London from May 25.
Reg S
Expected ratings: Baa2/–/BBB+
JGCs: Citi, DB
JBRs: Citi, DB, DBS

  • Shui On Land Proposes $225m 7.5% Senior Convertible Perpetuals

Co.’s unit Shui On Development to issue $225m 7.5% senior convertible perpeutal capital securities to be guaranteed by co., according to a statement to the Hong Kong stock exchange.
Initial conversion shr price of HK$3.2280 each
Proceeds to be used to repay existing indebtedness with near term maturities, and to fund capital expenditures
JPMorgan is sole global coordinator, and Standard Chartered Bank is joint bookrunner

  • Indonesia to Sell USD 10Y Sukuk, IPT 4.55% Area

Sukuk issuer: Perusahaan Penerbit SBSN Indonesia III
Obligor: Republic of Indonesia, represented by Ministry of Finance
Issuer ratings: Baa3/BB+/BBB-
Expected issue ratings: Baa3/BB+/BBB-
144a/Reg S
JBRs: CIMB, Dubai Islamic Bank, HSBC, JPM