Citi
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Alstom, the French maker of railway rolling stock, was the only high grade company to announce any corporate bond activity on Monday, as a public holiday in Germany and the huge flows of the last month kept the new issue market shuttered.
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Sovcombank was in the market on Monday morning with a subordinated bond, just 10 days after the issuer’s credit rating was upgraded by two major ratings agencies.
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A number of dollar bond issuers in Asia have moved to reopen their existing notes and add more funds to their coffers ahead of a week-long holiday in China for National Day.
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Singapore-listed Mapletree Commercial Trust is planning to raise S$874.8m ($632.9m) from the sale of new equity to part-fund a local acquisition.
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Investors have not completely shunned Libor-linked floating rate notes from public sector borrowers, as a trade from Swedish Export Credit Corp showed this week.
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IDB Invest, the private sector arm of the Inter-American Development Bank, failed to set the market alight with its debut fixed rate benchmark bond on Wednesday. There were no book updates and the trade was priced at the same level as initial price thoughts.