Citi
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Execution in the euro SSA market keeps getting better. New issue premiums are sliding as market participants adjust to new yield and spread levels, according to bankers and issuers. -
A widening in dollar swap spreads since the end of last week should help support a trio of dollar deals on screens for Wednesday’s business, said SSA bankers.
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Three Chinese issuers are seeking fresh funding from the dollar bond market on Tuesday, with one wooing accounts for a comeback deal and the other two making their debuts.
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A stack of high yield bonds is set to hit the European market, as four issuers announced roadshows on Monday.
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The euro market, despite an increasingly hawkish central bank and strengthening euro, is proving immensely popular with borrowers. A pair of sovereigns hit screens on Monday for euro trades, as did two Nordic agencies.
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India's Tata Steel has lined up a group of 21 lenders for an up to $2.16bn six year loan, which will be launched into primary syndication in a couple of weeks, said bankers close to the deal.
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Tata Steel, Tunas Baru Lampung and State Bank of India are on the prowl for dollars as they kick off their annual fundraising activities.
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Huami Corp, backed by Chinese mobile internet and electronics brand Xiaomi, is eyeing the Nasdaq stock exchange for a $150m IPO of American Depository Shares (ADSs).
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Volkswagen Financial Services has raised €600m through a Schuldschein placed with a single investor. The benchmark, which took the market by surprise, left many with more questions than answers.
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Hyundai Oilbank, a subsidiary of shipbuilding giant Hyundai Heavy Industries, has appointed six firms to run its potential multi-billion-dollar listing expected later this year.
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SSAs enjoyed a fine week in the sterling market, raising a total of nearly £2bn as bankers pointed to several factors that could be driving demand.
