BNP Paribas

A large financing for the acquisition of Tesco’s South Korean asset, Homeplus, has created a stir in the market, coming amid a dearth of private equity-backed leveraged deals in Asia. But the role of foreign banks may be limited by abundant onshore liquidity and the presence of domestic funds, which are keen to take on junior debt, writes Shruti Chaturvedi.

Public sector benchmark issuance snapped back after extreme volatility in credit and equity markets early this week, but bankers are concerned about the depth of demand in the currency.

Finland priced a €3bn 10 year deal a day after global markets were rocked by a big sell-off in Chinese equities. But the investor response to the deal had some bankers saying the issuer should have waited.

Two rare issuers announced plans to issue euro debt on Tuesday, with Swisscom mandating for its third ever deal and Pentair hiring banks for a possible debut in the currency.

Financing for three rival bids to acquire Tesco’s South Korean asset Homeplus feature a senior-junior split, according to market sources. One of the contenders is also said to have secured a letter of commitment from a local pension fund, considered unusual as such funds usually throw their weight behind bidders once they have emerged as the winner.

The Hong Kong Exchanges and Clearing (HKEx) group has hired former BNP Paribas (BNPP) head of RMB Julien Martin to join its fixed income and currencies (FIC) group.

Swedish Export Credit Corporation had to brave turbulent conditions on Friday to wrap up a flurry of dollar benchmarks from public sector issuers this week.

Tianjian state-owned Tianfang Hospitality Reit, which is looking to list in Singapore, is delaying its $200m-$250m IPO amid the current rocky market conditions and the deadly explosions in Tianjin port, said sources.

Tata Power's subsidiary Khopoli Investments is making a quick return to the loan market, mandating six lenders to arrange a $300m refinancing.

The dollar pipeline for SSAs showed no signs of closing on Thursday, as an agency mandated, a supranational printed, and bankers suggested that next week will be even busier.

The European Investment Bank opened up a new line in its Climate Awareness Bond product on Thursday.And despite paying little or no new issue premium was able to increase the deal’s size.

Trio to arrange $500m for SBI — NewOcean Energy returns for $170m — China duo clinch $1.1bn Wuxi take-private loan — Tiphone out for $184m — Kingboard to increase from HK$5bn