Citi
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A rally in the debt market and Indian Oil Corp’s (IOC) scarcity value buoyed the company’s return to dollar bond investors for the first time since 2013, allowing it to add a chunky $900m to its coffers.
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Shanghai Commercial Bank followed Hong Kong’s Dah Sing Bank into the bond market on Thursday with a $300m Basel III-compliant tier two deal.
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IPO-hopefuls Metropolis Healthcare and Polycab India, a wire and cable manufacturer, are set to begin pre-marketing this month, according to a source close to the deals.
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Indonesian textile company Sri Rejeki Isman (Sritex) has returned to the syndications market for a $350m loan that will go partly towards a bond buy-back.
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Public sector dollar issuance has had a slower start to the year than usual — in part because of super strong conditions in other currencies — but SSA bankers are confident the strength of the deals that did come this week will boost the pipeline.
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The sterling market for public sector borrowers is enjoying its best ever start to a year thanks to superlative conditions, Sonia linked debuts and a UK parliamentary vote on Brexit next week.