Citi
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French telecoms firm Altice called on the high yield bond and leveraged loan markets with a €4bn cross-border refinancing deal this week, hoping that improved quarterly results would help investors shake off the apprehension they showed for the credit in March. -
Hope Education Group began pre-marketing for its $400m Hong Kong float on Monday, the latest in a long line of IPOs from the education sector.
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Opera, the internet browser, is marketing its $115m Nasdaq IPO at a substantial discount to comparable web browsers in China and Russia.
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Korea East-West Power Co (EWP) raised $500m from a sustainability bond on Thursday that proved popular both in the primary and secondary markets, reflecting investors’ eagerness for defensive names.
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Public sector borrowers will enjoy sparkling conditions in the dollar market in the coming weeks if they choose to fund in the currency, said SSA bankers, with demand far outstripping supply. But candidates look hard to find after a handful of deals this week, with euros still offering better all-in pricing levels.
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Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.
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The Nordic Investment Bank was able to ratchet in pricing to the lowest five year spread for several years as it fed a dollar market starved of supply.
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Hyundai Oilbank, a subsidiary of shipbuilding giant Hyundai Heavy Industries, is looking for the green light for an IPO of up to W2tr ($1.77bn).
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Indian apparel maker TCNS Clothing is seeking up to Rp11.24bn ($163.9m) from a float of only secondary shares.
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The Nordic Investment Bank is set to bring a dollar benchmark in the five year part of the curve, a tenor that has come back into fashion for public sector borrowers — including from the European Investment Bank on Tuesday. That is despite most secondary flows coming in shorter maturities, according to SSA bankers.
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The UK Debt Management Office breezed through another syndication on Wednesday, although bankers said that the darkening cloud of global trade wars likely led some investors to seek shelter in the safe-haven asset.
