Barclays

Kazakhstan, Naspers and Renaissance Services reopened CEEMEA new issuance this week, relieving cash gorged investors of $5.325bn between them, in the second largest week for the region so far this year, writes Francesca Young

Yong Rong Global Excellence Fund managed to navigate choppy conditions in Asia’s equity capital markets to exit Bloomage Biotechnology in a HK$231.5m ($30m) block on Monday, July 13, wooing investors eager to take a position in the company at discounted levels.

The European Stability Mechanism has sent out a request for proposals for a euro benchmark — and could ape the European Union, which brought a five year on Wednesday, said public sector bankers.

Naspers reopened the market for CEEMEA corporates this week. But the rare nature of the credit means that few other borrowers can get away with similarly modest — if historically slightly elevated — premiums, said bankers on the deal.

Jumbo transactions from Japanese banks are nothing new when it comes to the international debt market although Sumitomo Mitsui Banking Corp (SMBC) did surprise some by opting to pay up with a $3bn four tranche offering on July 14.

Zambia has picked banks for a dollar bond and finishes a roadshow next week. Stabilising copper prices have raised some analysts' outlooks on Zambia's existing Eurobonds, although those notes dropped in the secondary following announcement of a new trade.

Korea National Oil Corp (KNOC) has announced a series of investor meetings in Asia, Europe and US as it gears up for the first offshore bond of 2015.

The future of Greece as a eurozone country was hanging in the balance on Wednesday — all but shutting down the euro benchmark market for public sector borrowers.

Turk Eximbank closed a €500m loan on Tuesday with its novel two-year tranche proving popular with banks.

India’s Dewan Housing Finance has sketched out tentative terms for a $110m facility and enlisted one lender to co-ordinate the fundraising. Its loan is expected to be followed by more financings from industry peers.

Asia’s primary debt capital market was crowded on July 14 as opportunistic issuers rushed out to take advantage of a favourable, but perhaps short, issuance window. Korea Gas Corp (KoGas) was among the throng.

Barclays has put Victor Wang at the helm of its China financials research and China equity strategy team, poaching the veteran analyst from Credit Suisse as the bank expands its coverage of Chinese equities.