Banks

Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal.

Swiss investment firm Jacobs Holding has trimmed its stake in chocolate maker Barry Callebaut, via an accelerated bookbuild and a simultaneous private placement.

Pharmaron Beijing Co, a pharmaceutical research and development service platform, has launched its Hong Kong SAR flotation, aiming to raise up to HK$4.6bn ($587.8m), said a source familiar with the matter.

China Minmetal’s wholly-owned subsidiary, Onfem Finance, has returned to the market for a HK$4bn ($511m) refinancing loan at tighter levels than its last syndication.

Road King Infrastructure returned to the dollar market for the fourth time this year on Monday. The borrower, which has favoured fixed-for-life perpetual bonds before, offered investors a slightly different perpetual deal this time that would see its coupon be reset but has no additional step-up.

Chinese local government financing vehicle Qingdao West Coast Development (Group) Co sold its inaugural offshore bond on Monday, pricing the notes in line with its better-rated peer after an aggressive tightening.

The Securities and Futures Commission of Hong Kong has fined UBS HK$400m ($51m) for overcharging its clients over a 10-year period — in the latest penalty to hit the Swiss bank in the city.

BMW Auto Finance (China) has wrapped up its last foray of the year into the Chinese auto loan ABS market with a tightly priced deal. A diverse group of investors took up the senior tranche of the Rmb8bn ($1.14bn) trade, said bankers.

After more than two decades with Goldman Sachs, India co-chief executive officer Vijay Karnani is set to retire at the end of the year, according to a memo seen by GlobalCapital Asia.

State Bank of India is looking to raise about Rp80bn ($1.1bn) by selling a minority stake in SBI Cards’ planned jumbo IPO, according to a banker on the mandate.

Ball Corporation, a US metal packaging and aerospace technology company, is looking to cut its financing costs with a €900m issue of senior unsecured notes. Crown, its closest peer in metal packaging, set a new floor — just 0.75% — for high yield coupons in Europe in October.

Mizuho MTN banker Alain Sanz-Gadea has moved to Rabobank.