Banks

Credit Bank of Moscow (CBM) is going on the road to promote a dollar loan participation note, returning to its usual external funding currency after a flirtation with euros in February.

GLP has closed a Rmb3.3bn ($490m) nine year Panda bond, after scrapping an earlier plan to sell a dual-tranche deal.

Cemex is back in the bond market after a year and a half’s absence, opening books on a senior secured bond in euros.

Garanti Bank, Turk Eximbank and Ziraat Bank have begun refinancing one year loans, according to two loans bankers. Pricing is said to be in line with Akbank, which launched a refinancing in early February.

A unit of insurer Standard Life is looking to bag at least Rp25bn ($359.8m) by trimming its stake in HDFC Life Insurance Co.

Private equity firm Platinum Equity is about to close the senior syndication for a $165m borrowing to support its acquisition of Singapore’s PCI.

Embassy Office Parks Real Estate Investment Trust (Reit) has global long-only investors on tenterhooks as it prepares to launch its smaller-than-expected Rp47.5bn ($683m) IPO, having filed the final terms for India’s first Reit listing.

Chinese local government-owned power generator Chongqing Energy Investment Group Co wrapped up its inaugural offshore bond, finding enough demand to support an aggressive price tightening.

Indonesian real estate developer Lippo Karawaci is on track to raise $730m from a rights issue as part of a $1.01bn funding programme that it hopes will strengthen its balance sheet, boost liquidity and enable investment in its existing projects.

High yield bond issuance in Europe is perking up, with several deals being marketed or just about to be launched. Beginning its roadshow on Monday was Sappi, the South African paper company, which wants to issue €450m to replace an older bond; starting on Tuesday is French car parts group Faurecia, seeking €500m.

Pepsico took one of its rare sips at the euro bond market on Monday, and was rewarded with two bonds, seen as priced flat to and through its curve. After the European corporate bond market was clouded by weak secondary trading last week, it was back on form on Monday.

Société du Grand Paris (SGP) mandated banks on Monday for its second benchmark green bond, following its debut last October. Meanwhile, KfW hit screens for a long three year benchmark, the agency’s third benchmark in euros this year.