Mapletree North Asia Raises S$250mn via a PerpNC5 At 3.5%
Mapletree North Asia Commercial Trust (MNACT) raised S$250mn via a Perpetual non-call 5Y (PerpNC5) bond at a yield of 3.5%, 20bp inside initial guidance of 3.7% area. The bonds were unrated and received orders over $1.1bn, 4.4x issue size. Private banks bought 60% and...
Fed Looking Into Deutsche’s Compliance Failures
The US Federal Reserve in an annual regulatory assessment noted that Deutsche Bank had not improved its risk management practices despite being under confidential agreements with the Fed. The Fed privately warned the German lender that its compliance programs are not...
NWD Raises $1.2bn Via PerpNC7 at 4.125%
New World Development (NWD) raised $1.2bn via a Perpetual non-call 7Y (PerpNC7) at a yield of 4.125%, 37.5bp inside initial guidance of 4.5% area. The bonds were unrated and received orders over $3.3bn, 2.75x issue size. NWD doubled the issue size from their initial...
Oman Arab Bank Sells Debut Dollar Perps at 7.625%
Oman Arab Bank raised $250mn via a debut PerpNC5 Tier 1 bond at a yield of 7.625%, 37.5bp inside initial guidance of 8% area. The bonds were unrated and received orders over $1.1bn, 4.4x issue size. The coupons are fixed until June 4, 2026, and if not called, resets...
