BNP Paribas

ONGC Videsh kept investors guessing with its latest bond deal, launching in dollars but adding a last minute euro ticket – its debut in the currency. The $2.2bn through the triple tranche dual currency bond ranks as the largest G3 offering by an Indian name, with the euro tranche driving tighter pricing on the dollar legs.

Six banks have been mandated for Indian company Rural Electrification Corp’s latest fundraising, which was originally touted as a $100m deal but is now set to increase.

The first offshore RMB bond to be issued, listed and cleared in Paris launched on Tuesday and France is set to have its own RMB clearing bank soon. The city’s strengths in areas such as trade with Africa and eurozone bond issuance might give it an edge in the rising competition among European capitals to become the leading RMB hub.

Kookmin Bank priced its second syndicated dollar bond of the year on Monday, this time opting for a fixed rate deal to target a fresh pool of investors.

Bank of China (BoC) has opened books for its Paris debut of renminbi-denominated bonds. BoC’s Paris branch will be the issuer and the two and five year dual-tranche deal has been indicated at 3.6% area and 4.0% area, respectively.

BNP Paribas has named two senior executives to drive its fixed income business in Germany, as part of its decision six months ago to upgrade Germany to one of its domestic markets, alongside France, Belgium, Luxembourg and Italy.

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ONGC Videsh has opened guidance on a dual tranche dollar offering just days before newly elected prime minister Narendra Modi reveals his maiden budget on Thursday, July 10. Despite market expectations of a euro-denominated bond, the issuer opted for dollars as the conditions were more favourable.

Kookmin Bank opened books for its second dollar deal this year on Monday. The three year bond comes as Korean borrowers issued a record volume of G3 debt during the first half of 2014.

Jamaica made a triumphant return to bond markets on Tuesday just a year after its last debt restructuring, showing of the strength of the high yield market by clinching its lowest ever coupon in international markets.

Rating: Aaa/AAA/-

International Finance Corp made a quick start to its funding year this week, when it raised $3bn of five year money at a very tight level, just a day into its new funding programme. The borrower expects to pick up an increased amount of funding in non-core currencies this year.