Bank of America

The claims of Corporación Andina de Fomento (CAF) to full SSA status appear to be gaining weight after the Latin American development bank issued a three year dollar benchmark on Wednesday.

After a week of no new paper in CEEMEA, EM bankers are looking forward to a busier next week as four bonds are slated from the region and the market looks supportive enough to allow issuers to pull the trigger.

Mubadala Development Company has set the size of its bond at $500m and meetings for the deal are so far going well, said a banker close to the deal on Thursday.

HDFC Standard Life Insurance Co (HDFC Life) has mandated four houses to run its IPO, which will be India’s first listing by an insurance company.

A HK$9.7bn ($1.25bn) sell-down in Chinese insurer PICC Property and Casualty Co last weekend has injected some welcome activity into Asia’s block market, which has seen limited business since the start of the year. The success of the deal in the primary and the secondary market is expected to inspire potential sellers to take action. Jonathan Breen reports.

Turkish bank Yapi ve Kredi Bankasi has refinanced the 367 day credit facility it signed in April last year, maintaining the size of the lender group.

Latin American development bank CAF’s transition from emerging market to SSA issuer is almost complete, said its head of funding, after nearly 40% of demand for its latest dollar deal came from central banks and official institutions.

Spanish car parts maker Gestamp on Wednesday priced a €500m secured bond to redeem all of its old euro notes at first call.

The Singapore branch of Industrial and Commercial Bank of China has become the lender’s first offshore unit to issue a fixed rate dollar bond this year, raising a larger than expected $800m.

Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.

Vodafone has mandated six banks for the IPO of its Indian arm, which could raise up to $2.5bn, according to sources close to the situation.

Mubadala Development Company has mandated six banks for its first dollar benchmark since 2014 — making it the first public international bond with Peter Turney, an ex-Mitsubishi and BNP Paribas DCM banker at the helm.