Citi

Wire and cable manufacturer Polycab India is planning an IPO of new and existing stock, as backer International Finance Corp looks to cash in part of its stake.

India’s Rural Electrification Corp pushed into the US market on Wednesday with its first 144A deal, to diversify its investor base. The power financing company decided to keep the $700m deal to one tranche and opted to leave some premium for investors.

Mirae Asset Daewoo Co became the first securities firm from South Korea to tap the international bond market this week, when it issued $300m on Wednesday.

The Netherlands plans to join the burgeoning list of sovereign green bond issuers and could become the first triple-A rated country in the group. Whether the bond will be via syndication or the country's preferred auction method has yet to be decided. Meanwhile, two of the country’s public sector SRI borrowers were busy in the format this week.

Mubadala Development Company has released initial price guidance for its benchmark 10 year bond at a level that is piquing investor interest, but tightening is expected.

Bahrain’s Oil and Gas Holding Company (Nogaholding) has released initial price guidance for a dual tranche six year and 10 year bond issue. An investor said he was expecting minimal tightening before pricing.

China Citic Bank International gave in to investor demands for a higher yield on its additional tier one notes, compromising on price to secure a $500m trade.

Avic International Leasing Co netted $350m on Tuesday from a three year bond, opting for a slightly different pricing strategy by starting the deal at a relatively tight guidance.

UK supermarket retailer Tesco announced on Monday that its most recent tender offer had been oversubscribed, completing a successful liability management exercise (LME) after selling €750m of bonds a fortnight previously. The company hopes the success of the deal will help it on the way to regaining its investment grade status with all rating agencies.

Österreichische Kontrollbank and Erste Abwicklungsanstalt priced well received dollar deals on Tuesday. The pipeline in the currency is building with Bank Nederlanse Gementeen and Swedish Export Credit Corporation having lined up three year trades.

KfW received a final book of over €12bn for a five year euro benchmark on Tuesday, while the City of Hamburg closed out its funding for the year with its longest outstanding bond. Finnvera will add to the euro SSA supply this week, after mandating banks for a short 10 year that is likely to be its final syndication of the year.

Shinhan Bank used its position as the first dollar borrower in the market on Monday to lock up $500m, paying just a low single-digit new issue premium despite global volatility.