Citi

Baidu-backed video streaming service iQiyi and Chinese hotel operator GreenTree Hospitality Group are readying a pair of US IPOs for the end of March to raise a combined $1.7bn.

Syndication of a $1bn loan for Lenovo Group got off to a roaring start with an encouraging turnout from banks at a Hong Kong roadshow this week. The Chinese company has made it clear it wants to recapture the top spot in the global personal computer market, but bankers are wary about how the firm will look to meet its goals. Shruti Chaturvedi reports.

Bangladesh's independent power producer Summit Power launched pre-marketing this week for a ground-breaking Singapore IPO. It will be only the second international listing by a Bangladeshi company.

Reliance Power will seek shareholder approval for a Rp20bn ($306.8m) qualified institutional placement, after its board of directors approved the deal this week.

Equity investors threw their support behind Housing Development Finance Corp’s Rp19bn ($291.3m) fundraising this week, as the mortgage lender steered clear of a scandal that has engulfed India’s state-owned banks. It showed that the qualified institutional placement market is still open for the right names, writes John Loh.

Singaporean issuers in the dollar market are rare enough for investors, but those with a guarantee from the triple-A rated government are ever more unusual. Clifford Capital made the most of that rarity value this week, raising $300m from a government-guaranteed deal.

Bank Muscat, Oman’s largest bank by assets and capital, has named leads for a five year dollar note.

The European Bank for Reconstruction and Development set a new pricing bar for 2018 in five year dollars on Wednesday as it equalled its largest ever dollar benchmark size. Municipality Finance was also out in the same tenor, with a trade that leads said had a concession of 2bp-3bp.

Europe’s syndicated loans bankers say recent transactions highlight how cut-throat the market is for lenders, as the European Commission gets under way with a study on market practices.

Before 2017, US crowd services provider Equinix had not issued a bond in euros. But it has now visited the European high yield market three times, having completed its latest deal on Wednesday.

The Islamic Development Bank (IsDB) has mandated eight banks to roadshow a benchmark five year Reg S sukuk with a view to adding a 10 year tranche as well.

Equity capital markets are enjoying heightened activity this week with a number of block trades hitting the pipeline and three IPOs launched on Monday.