BNP Paribas

A group of seven lenders opened a $600m loan for State Bank of India to retail participation this week, with three tickets up for grabs.

India’s Adani Ports and Special Economic Zone and China’s Taikang Insurance Group are drawing investors’ attention to their respective dollar offerings on Wednesday.

Bank Negara Indonesia has hit the market for a $750m borrowing via nine mandated lead arrangers and bookrunners, launching its biggest international syndicated loan.

Public sector borrowers tore $10bn of funding from the dollar market on Tuesday, shaving several basis points from initial price thoughts in the process. Only one benchmark is on screens for Wednesday, but SSA bankers expect next week’s run-up to the inauguration of Donald Trump as US president on January 20 will be — in Trump terminology — “huge”.

The belly of the curve appears to be the favoured spot in euros, with the European Financial Stability Facility selling a €3bn November 2022 and Agence Française de Développement announcing that it intends to bring an April 2022 on Wednesday. Further out in the curve, the market is proving less supportive.

After spending 2016 away from the high yield market, UK premium car maker Jaguar Land Rover returned on Tuesday to add euros to its all sterling and dollar debt.

Primary activity in the European leveraged loans market is off to a stuttering start this year, with only a few small deals launched and larger borrowers either yet to appear or set to forego the market.

BPCE raised its first €1bn of senior non-preferred notes in euros on Tuesday, joining France’s three other global systemically important bank in the fledgling market.

Wisdom Education International Holdings Co is set to start taking orders for its Hong Kong IPO on Thursday and is eyeing up to $150m, according to a banker close to the transaction.

CT Corp company Trans Retail, which had been in discussions with banks for a fresh financing since late last year, is on the verge of signing the deal.

KommuneKredit and Unédic have both pulled off strong trades, getting in ahead of what is expected to be a busy week in euros by coming to market on Monday.

Tuesday’s dollar market is set to be packed to the rafters, with a quartet of issuers out with trades and most of the focus at the five year part of the curve.