Asia Pacific
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Binh Son Refining and Petrochemical Co is preparing to launch an IPO of at least D3.5tr ($154.3m) later this month. -
The response to Tata Motors' £640m ($839m) refinancing has been phenomenal, with the loan generating commitments exceeding $1bn, said bankers close to the situation.
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Chinese conglomerate Citic became one of the first movers in the dollar debt market this week, raising $750m from a dual-tranche bond on Thursday.
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India’s IL&FS Transportation Networks is laying the groundwork for the first offshore renminbi bond of the year, mandating banks on Friday.
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Zhongyuan Yuzi Investment Holding Group Co, a local government financing vehicle in China’s Henan province, is sounding out investors for its inaugural dollar bond.
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Chinese state-owned coal miner Yankuang Group Company is making a swift comeback to the debt market after its debut just over a month ago, looking to add to its existing three year. Guangzhou R&F Properties Co, meanwhile, sold a quiet $100m tap on Thursday at a slight discount to the original notes.
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Idea Cellular’s board of directors has given it the go-ahead to raise up to Rp67.5bn ($1.1bn) in fresh capital, according to an exchange filing.
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Property developer Lai Fung Holdings will kick off a roadshow next week for a new dollar bond.
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Philippine company International Container Terminal Services (ICTSI) will meet investors in Asia and Europe next week for a senior guaranteed perpetual bond.
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Malaysia’s S P Setia will hit the road soon to market a MR1.2bn ($300.5m) placement to institutional investors, said a banker involved in the transaction.
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LBBW, Santander UK and Westpac all enjoyed fair demand for seven year covered bonds issued this week, suggesting good scope for further issuance in this tenor.
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Westpac and Santander UK returned to the euro covered bond market on Thursday. Though early book momentum was marginally stronger in the Australian deal, the oversubscription ratios for both deals was rather low. Meanwhile, Stadshypotek showed that there is still good scope for further sterling covered bond supply.
