Largest EM issues of Januarу 18-20 Issue | Volume Philippin | Cbonds Global

Largest EM issues of Januarу 18-20

Issue | Volume

Philippines
Asian Development Bank (ADB)(Aaa/AAA/AAA), FRN 16jun2026, USD 1 bln
Initial issue amount: 250,000,000 USD
Listing: Luxembourg S.E.
Bookrunner: Goldman Sachs
Depository: Clearstream Banking S.A., Euroclear Bank

China
Asian Infrastructure Investment Bank (AIIB) (Aaa/AAA/AAA), 4.25% 27jan2027, PHP 3,8 bln
Initial issue price (yield): 100% (4.25%)
Listing: Luxembourg S.E.
Bookrunner: Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Cao Feidian State Holding Investment Group (Cao Guokong), 2.1% 25dec2024, USD 100 mln
Initial issue price: (yield) 100% (2.10%)
The purpose of placing: Working Capital
Listing: Hong Kong S.E.
Bookrunner: China Everbright Bank, China Merchants Bank, China Silk Road International Capital, China Zheshang Bank, Industrial Bank, Luso International Banking, Not Available, Tensant Securities
Depository: Clearstream Banking S.A., Euroclear Bank

China Water Affairs Group (Ba1/BB+/-), 4.85% 18may2026, USD 350 mln
Initial issue price (yield): 98.8% (6.13%)
Settlement Duration: 2.79 years
Bids: 620,000,000 USD
The purpose of placing: Refinance
Listing: SGX, IYXB
Bookrunner: ANZ, BNP Paribas, Bank of Communications, Bank of East Asia, CITIC Securities International, DBS Bank, Morgan Stanley
Depository: Clearstream Banking S.A., Euroclear Bank
Arranger Legal Adviser (International law): Davis Polk & Wardwell
Issuer Legal Adviser (Domestic law): Sidley Austin
Issuer Legal Adviser (International law): Sidley Austin

Huzhou City Investment Development Group (Baa3/-/BBB), 2.85% 25jan2025, USD 300 mln
Initial issue price (yield): 100% (2.85%)
The purpose of placing: General Corporate Purposes, Working Capital
Listing: Hong Kong S.E.
Bookrunner: Bank of China, Bank of Communications, CCB International, CLSA, CNCB Capital, China Everbright Bank, China International Capital Corporation (CICC), Haitong International Securities Group, Industrial Bank, Orient Securities International Holdings, Standard Chartered Bank
Depository: Clearstream Banking S.A., Euroclear Bank

Jiangsu Gaokai Investment Development Group, 2.1% 24jan2025, USD 100 mln
Initial issue price (yield): 100% (2.10%)
The purpose of placing: Working Capital, Project Finance
Listing: Hong Kong S.E.

Jiaozuo City Investment Group, 5.5% 20jan2023, USD 100 mln
Initial issue price (yield): 100% (5.50%)
The purpose of placing: General Corporate Purposes, Working Capital, Project Finance, Refinance
Bookrunner: CNCB Capital, Central China Securities, Guotai Junan Securities, Guoyan Securities Investment, Shenwan Hongyuan Group
Depository: Clearstream Banking S.A., Euroclear Bank

Romania
Romania (Baa3/BBB-/BBB-), 3% 27feb2027, USD 1,35 billions
Initial issue price (yield): 99.391% (3.13%)
Spread to US Treasury bonds: 150 bp
Listing: Luxembourg S.E.
Bookrunner: Citigroup, Erste Group, HSBC, ING Bank, JP Morgan, Societe Generale
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank

Romania (Baa3/BBB-/BBB-), 3.625% 27mar2032, USD 1,06 billions
Initial issue price (yield): 99.37% (3.70%)
Spread to US Treasury bonds: 185 bp
Listing: Luxembourg S.E.
Bookrunner: Citigroup, Erste Group, HSBC, ING Bank, JP Morgan, Societe Generale
Depository: Clearstream Banking S.A., DTCC, Euroclear Bank