March 15 (Reuters) - Global debt markets were struck by a
huge spike in volatility on Tuesday as fears of a nuclear
catastrophe in Japan sent credit spreads sharply wider and drew
mixed reactions from borrowers who are in the market with new
deals. [ID:nLDE72E1W8]
Short-term fundraising plans for some international
borrowers are now likely to be disrupted as the standstill that
began in Japan's domestic bond market begins to ripple through
international debt capital markets.
ASIAN DEALS
JAPAN
Swedish Housing Finance Corp (SBAB)
Confirmation that the A1/A+ rated issuer's first Samurai
since 1999 has been pulled is expected on Wednesday.
The transaction, managed by Nikko Cordial, Citigroup and
Mizuho had been slated to price on Friday. [ID:nIFR9vWR4v]
ORIX Corp (8591.T)
The Japanese finance company's renminbi bond was delayed
until this morning. It priced a three-year CNY400m (US$61m) via
ANZ, BNP Paribas, Boom Securities, Mizuho and Standard Chartered
The coupon of 2.0%, came at the tight end of the 2.00%-2.10%
guidance on the back of demand that saw the offering over five
times covered. [ID:nIFR4GpVlb]
URA
Pricing of an 80 billion yen, four-year bond from Urban
Renaissance Agency (rated Aa2) was pushed back from March 15 to
March 23.
All Nippon Airways (9202.T)
In Japan's corporate sector, domestic issuance planned for
Tuesday - a JPY30bn 3yr retail bond from Air Nippon Airline may
be postponed
WEST JAPAN CITY BANK
A 10bn yen, 10-year domestic subordinated bond from West
Japan City Bank -- may also be postponed.
ACOM
The fate of a 10 billion yen, two-year deal from Acom
(ARBN.AS) remains uncertain
NICHIAS CORP.
The fate of a deal from Nichias (5393.T) Corp remains
uncertain
OSAKA
A municipal issue for Osaka Prefecture was delayed
TOKYO
Tokyo Metropolitan's planned Tuesday bond sale is also on
hold.
YOKOHAMA
Started marketing at the syndication group level a JPY10bn
20yr refined to JGB+8.5bp from JGB+8.5bp-9bp. Pricing expected
in the second half of the week.
CHINA
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