Citi
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The chair of the influential UK Treasury select committee, Nicky Morgan, told a conference of derivatives bankers, lawyers and regulators, that despite the threat of “serious problems” for cross-border derivatives contracts in a Brexit no-deal scenario, she was “reasonably confident that a no deal scenario will not cause the whole sector to fall over”.
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Chinese scooter maker Niu Technologies is planning to float on the Nasdaq for up to $150m, filing a prospectus with the US regulator on Monday.
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Ganfeng Lithium is enticing investors to its HK$5.3bn ($678.9m) Hong Kong IPO by pitching it at a juicy discount of as much as 55% to its Shenzhen-traded shares.
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General Electric’s distributed power unit began marketing a $1.8bn leveraged buyout loan. The deal has high net leverage and tight pricing guidance, two of the possible risks in the market underlined by the Bank for International Settlements (BIS) this week.
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IDB Invest hit screens for a three year dollar bond on Monday, as the pipeline for the currency grew for the final quarter.
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The Republic of Albania will go on the road to promote a euro benchmark transaction for the first time in three years.
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Saudi Basic Industries Corporation (Sabic) has selected banks for its first trip to the bond market for five years, angling to refinance a bond maturing next week.
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UK telecoms provider BT Group avoided competing with six new issues on Thursday and found itself with no competing supply for its latest corporate bond deal on Friday. While BT’s ambitions for the size of its deal this time were more modest than previous trades, the demand was still strong, allowing it to print tight to secondary levels.
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In a setback for South Korea’s insurance companies, Hanwha General Insurance was forced to pull its tier two dollar bond from the market on Thursday.
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Two Samsung-linked units raised W927bn ($829m) from a sell-down in Samsung C&T Corp on Thursday, capping a flurry of overnight block trades from South Korea this week.
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Nestle, Électrcité de France and BP have led a stampede to the dollar market ahead of an expected rate hike by the Federal Reserve next week, as credit markets shrugged off trade wars between the US and China.
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Japanese issuers are rarely seen in the European corporate bond markets, but electric motor manufacturer Nidec made it two Japanese corporate bond sales in two days, following Japan Tobacco’s multi-tranche deal on Wednesday.