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Asia ex-Japan G3 bond issue pipeline
March 14, 2012 / 9:08 AM / 6 years ago

Asia ex-Japan G3 bond issue pipeline

HONG KONG, March 14 (IFR) - Mongolian Mining Cor is planning a global bond deal for which it has mandated BofA Merrill Lynch, ING and JPMorgan as joint bookrunners and together with Standard Bank and Standard Chartered Bank as joint lead managers to arrange meetings in Asia, Europe and the United States starting on 15th March 2012.

Meetings are planned in Hong Kong on Thursday, in Singapore on Friday this week. Next week, the company is holding roadshows in London on Monday (March 19) and in New York and Boston on Tuesday and Wednesday (March 20-21).

A transaction under Regulation S/ Rule 144A may follow subject to market conditions. FSA/ICMA stabilization applies.

KWG Property is set to ride the wave of solid investor demand for Chinese property exposure following the resounding success of Agile Property.

KWG has appointed Barclays Capital, HSBC and Standard Chartered as joint bookrunners and joint lead managers for the Reg S transaction whose details are yet to be finalised.

Australian mining company Fortescue is giving accounts preliminary indications on its two-tranche USD1bn deal on the tight side. Leads JPMorgan, BofA Merrill Lynch, Citigroup,Credit Suisse, Deutsche Bank, RBS and UBS are sounding accounts with initial levels of 6.25%-6.5% for the 5-year, but testing interest as tight as 6%.

DBS Bank has issued guidance of around 270bp over US Treasuries for a 10.5 non call 5.5 lower tier II bond which is likely to price today.

The 144A/Reg S transaction is a benchmark sized one and has DBS, BofA Merrill Lynch and Goldman Sachs as bookrunners.

The issuer ratings are Aa1/AA-/AA- (Stable/Stable/Stable) and the expected issue ratings are Aa2/A+/A+ (Stable/Stable/Stable).

neha.dsilva@thomsonreuters.com

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