New Bond Issue Pipeline / Recent Bond Issues
Alibaba is expected to announce bond mandate next week and price transaction before Nov. 23, Reuters’s IFR says, citing unidentified people familiar with the matter. Bonds may have long-term maturities, Reuters cites one person.
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Manulife Financial Corporation (“MFC”), the largest insurance company in Canada by market capitalization with senior unsecured ratings of A (Stable) from S&P and A- (Stable) from Fitch, has mandated DBS Bank Ltd., HSBC, and Standard Chartered Bank as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor meetings in Singapore to be held on November 13th, 2017. An offering of SGD-denominated benchmark size Reg S Subordinated Tier 2 Green notes (the “Notes”) may follow, subject to market conditions. The Notes are expected to be rated A- by S&P.
NetRoadshow
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Wing Lung Bank Limited (the “Issuer”), rated A3 stable by Moody's, has mandated Bank of America Merrill Lynch, Citigroup, CMB International and Wing Lung Bank Limited as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners, and China Everbright Bank Hong Kong Branch and China Merchants Securities (HK) as Joint Lead Managers and Joint Bookrunners to arrange a series of fixed income investor meetings in Hong Kong and Singapore commencing on 10 November 2017. An offering of US$ denominated Basel III-compliant Tier 2 subordinated notes (the “Notes”) under the Euro MTN Programme of the Issuer may follow, subject to market conditions. The Notes are expected to be rated Baa2 by Moody’s.
Netroadshow:
http://www.netroadshow.com | WLB746 (not case-sensitive)
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WTT Investment Ltd, an enterprise-focused fixed-line telecom company in Hong Kong, rated B1 (Stable) by Moody’s and B+ (Positive) by Fitch, has mandated Citigroup, HSBC, and Standard Chartered Bank as Joint Global Coordinators and Joint Bookrunners, Huatai Financial Holdings (Hong Kong) Limited and Nomura as Joint Bookrunners to arrange a series of fixed income investor meetings in Asia, Europe and the U.S. commencing on November 7, 2017. A 144A / RegS US$ denominated offering, expected to be rated B1 by Moody’s and BB- by Fitch, may follow subject to market conditions. Relevant stabilization regulation applies, including FCA/ICMA.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=F2F5bB
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Xinyuan Real Estate Co., Ltd. (NYSE: XIN) (the “Company”), rated B (stable) by Fitch and B (stable) by S&P, has mandated Guotai Junan International, Morgan Stanley and UBS as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers to arrange a series of fixed income investor meetings in Hong Kong commencing on 13 November 2017. A Regulation S U.S. dollar-denominated senior notes (the “Notes”) offering may follow, subject to market conditions. The Notes are expected to be rated B by Fitch and B- by S&P.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=A4FAcC
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Anton Oilfield Services Group (“Anton” or the “Company”), has mandated Nomura as Sole Dealer Manager and Sole Global Coordinator to arrange a series of fixed income investor meetings commencing on 15 November 2017 in relation to its offer to exchange (the “Exchange Offer”) the 7.5% Senior Notes due 2018 (the “Existing Notes”) for the new Senior Notes due 2020 (the “New Notes”) and a Concurrent New Money Issuance. The Exchange Offer and the New Notes are being made on the terms and subject to the conditions set out in the Exchange Offer Memorandum dated November 13, 2017.
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Inner Mongolia BaoTou Steel Union Co., Ltd. (the “Issuer”) has mandated SGCIB and Bank of China as Joint Global Coordinators, and SGCIB, Bank of China, China Galaxy International Securities (Hong Kong) Co., Ltd, China International Capital Corporation, CNI Securities Group Limited, Ping An of China Securities (Hong Kong) Company Limited and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers, to arrange a series of fixed income investor meetings in Hong Kong and Singapore commencing on 13 November 2017. An issue of Regulation S only USD-denominated Bonds (the “Bonds”) may follow, subject to market conditions. The Bonds will be unrated.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=A5aA19
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Wanda Holding Group Co., Ltd. (“Wanda Holding”) has mandated Standard Chartered Bank as Sole Global Coordinator, Sole Bookrunner and Sole Lead Manager to arrange a series of investor meetings in Hong Kong and Singapore in connection with a USD denominated Regulation S notes (the “Notes”) offering by China Wanda International Funding Pte. Ltd. (the “Issuer”). The proceeds of the Notes will be applied toward the advance of a USD term loan (the “Loan”) to Hontop Energy (Singapore) Pte. Ltd. (the “Borrower”). The Notes are expected to be rated AA+ by Dagong Global Credit Rating Co, Ltd.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=Efeb83
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Vista Land & Lifescapes, Inc. (the “Company”) has mandated DBS Bank Ltd., and HSBC as Joint Lead Managers and Bookrunners to arrange a series of fixed income investor meetings in Hong Kong, Singapore and London, commencing 13 November 2017. A Regulation S USD denominated fixed rate bond may follow, subject to market conditions.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=970CDd
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Kasikornbank Public Company Limited, acting through its Hong Kong branch (the “Issuer”), rated Baa1 / BBB+ / BBB + (Moody’s / S&P / Fitch) all Stable, has mandated Citigroup and Standard Chartered as Joint Bookrunners for a potential offering of Regulation S US$ denominated medium-term tenor senior unsecured notes (the “Notes”) under its Euro MTN Programme. A deal may follow, subject to market conditions. The Notes are expected to be rated Baa1 / BBB+ / BBB+ (Moody’s / S&P / Fitch).
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Emirates Sembcorp Water & Power Company PJSC, owner of the Fujairah F1 fully operational power and desalinated water plant in the Emirate of Fujairah and sponsored by ADWEA, TAQA and Sembcorp Utilities Pte Ltd, has mandated Citi and HSBC as Global Coordinators and Citi, DBS Bank Ltd., First Abu Dhabi Bank, HSBC and SMBC Nikko as Joint Bookrunners to arrange a series of investor meetings Asia, Middle East, the US and Europe starting on 9 November.
A Rule 144A/Regulation S senior secured fixed offering of a USD400m 18-year amortising bond (expected ratings A2 (Moody's) and A- (S&P), 14.82-year weighted average life will follow, subject to market conditions. FCA / ICMA stabilization applies.
Link:
www.netroadshow.com/nrs/wp/default.html?show=bEfFe5
Entry code: Action42 (not case sensitive)
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Elion Resources Group Co., Ltd. (the “Company”), rated B Stable (S&P), has mandated CITIC CLSA Securities, DBS Bank Ltd., Founder Securities (Hong Kong) Limited and HSBC as Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers to arrange a series of fixed income investor meetings in Hong Kong and Singapore commencing on 17 October 2017. A Regulation S only U.S. dollar-denominated senior unsecured guaranteed bonds offering (the “Bonds”) may follow, subject to market conditions. The Bonds will be issued by Ryan Investments Limited (the "Issuer"), a wholly-owned subsidiary of the Company, and will be unconditionally and irrevocably guaranteed by the Company. FCA/ICMA stabilization applies.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=5EDd8A
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AVATION PLC, based in Singapore, rated B+ Stable (S&P) / Stable (Fitch), has mandated J.P. MORGAN and R.W.PRESSPRICH as Joint Bookrunners to arrange a
series of fixed income investor meetings in Singapore, Hong Kong, London, Los Angeles, New York and Boston commencing on October 25, 2017. A proposed
Regulation S/144A USD denominated Senior Notes offering may follow, subject to market conditions. The Notes are expected to be rated B (S&P) / B+ (Fitch) and
will be issued by AVATION GROUP (S) PTE LTD., which is a wholly-owned subsidiary of AVATION PLC.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=35dAF2
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PT. Steel Pipe Industry of Indonesia, Tbk., rated B2 (Stable) by Moody’s, B (Stable) by S&P and B (Stable) by Fitch, has mandated HSBC as Sole Global Coordinator and J.P. Morgan as Joint Bookrunner to arrange a series of fixed income investor meetings in Hong Kong, Singapore and London commencing on September 4, 2017. An offering of Reg S USD-denominated senior notes (the “Notes”) may follow, subject to market conditions. The Notes are expected to be rated B2 by Moody’s and B by Fitch.
www.netroadshow.com/nrs/wp/default.html?show=ef5e55
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PT Tunas Baru Lampung Tbk. (the "Company"), has mandated CIMB Bank, Mandiri Securities and Maybank Kim Eng Securities to arrange a series of fixed income investor meetings in Singapore commencing on 31 July 2017. A Regulation S offering of SGD-denominated senior notes (the “Notes”) may follow, subject to market conditions.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=Ac6Dea
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Pakistan looks to issue up to USD 1bn sukuk, seeking to mandate banks by 15 October
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Adani Abbot Point Terminal mandates Jefferies for USD 500m bond
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Bank of Baroda, rated Baa3 (Positive) / BBB- (Stable) by Moody’s and Fitch respectively, has mandated Bank of America Merrill Lynch, Barclays, BNP PARIBAS, Citigroup, DBS Bank Ltd., HSBC, J.P. Morgan and Standard Chartered Bank to arrange a series of fixed income investor update meetings in Europe and Asia commencing on 19 June 2017.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=0a5D96
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United Energy Distribution Pty Limited (“UED”), rated BBB+ (stable) by S&P, has mandated ANZ and NAB to arrange a debt investor update call on Tuesday, the 10th of October 2017. A 7 year AUD denominated capital markets transaction may follow, subject to market conditions.
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Korea Electric Power Corporation, rated Aa2 Stable by Moody's, AA Stable by S&P and AA- Stable by Fitch, has mandated BofA Merrill Lynch, Citigroup and Crédit Agricole CIB to arrange a series of fixed income investor meetings in the U.S., Europe and Asia during the week of November 13, 2017. A US Dollar denominated 144A/Reg S short to intermediate maturity Green Bond deal may follow, subject to market conditions.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=433aEb
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Korea Housing Finance Corporation (the " KHFC ") (Aa2 by Moody's / AA- by Fitch) has mandated BNP PARIBAS, Citigroup, ING and Standard Chartered Bank as Joint Bookrunners and Joint Lead Managers, and Mirae Asset Daewoo as a Joint Lead Manager on its upcoming USD denominated RegS / 144A / 3c7 Covered Bond transaction, backed by Korean residential mortgages. The deal is expected to be rated Aa1 by Moody's with an expected tenor of 5 years and be launched and priced in the near future subject to market conditions. BNP PARIBAS, Citigroup, ING, and Standard Chartered Bank will be arranging a series of meetings commencing on 16th of October 2017 with eligible professional and institutional investors only in Asia, Europe and the US as part of this transaction. FCA/ ICMA stabilisation applies.
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The Korea Development Bank (“KDB”), rated Aa2 by Moody's, AA by S&P and AA- by Fitch, has mandated BofA Merrill Lynch and Crédit Agricole CIB to arrange a series of fixed income investor meetings in the U.S. and Europe during the week of May 22, 2017 and May 29, 2017, respectively. KDB intends to update investors on its recent developments, including its green initiatives. A U.S. Dollar denominated SEC-registered bond deal may follow, subject to market conditions.
www.netroadshow.com
p/w: develpment23
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Korea Resources Corporation, rated A1 (Stable) by Moody's and A+ (Stable) by S&P, has mandated BNP PARIBAS, Citigroup, HSBC, J.P. Morgan and UBS to arrange a series of fixed income investor meetings in Asia and the U.S., commencing on April 4, 2017. A USD denominated 144A/Reg S short to intermediate maturity deal may follow, subject to market conditions.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=746d86
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JSC NC Kazakhstan Temir Zholy (“KTZ”), the 100% state-owned national transportation and logistics operator of the Republic of Kazakhstan, has mandated J.P. Morgan and Renaissance Capital as Joint Global Coordinators, and Halyk Finance, J.P. Morgan, MUFG and Renaissance Capital as Joint Bookrunners to arrange a series of fixed income investor meetings in Kazakhstan, Europe and the US, commencing on October 31, 2017. A USD-denominated benchmark Reg S / 144A senior unsecured bond offering with an expected tenor of 10 to 15 years, which is expected to be rated Baa3 (Moody’s) and BBB- (Fitch), will follow, subject to market conditions.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=b559C1
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PJSC Gazprom, rated Ba1 by Moody's, BB+ by S&P and BBB- by Fitch, has mandated Credit Agricole CIB, Deutsche Bank, Gazprombank, UniCredit Bank and VTB Capital as Joint Lead Managers and Bookrunners to arrange a series of fixed income investor meetings in Frankfurt and London commencing on 13 November. A Reg S only senior unsecured benchmark EUR-denominated international debt transaction with an intermediate maturity will follow, subject to market conditions. FCA/ICMA Stabilisation.
FINAL LINK:
www.netroadshow.com/nrs/wp/default.html?show=Fcc72164