Citi

Indian lender Yes Bank has mandated four Taiwanese banks for its latest syndicated loan, a $200m five year. The firm is raising funds through its branch in Gujarat International Finance Tec-City (Gift City), India’s first international financial services centre.

Two SSA borrowers printed dollar benchmarks on Wednesday, pulling off solid trades in spite of some investors put off by tight spreads.

Public sector borrowers are mainly keeping to the short end of the dollar curve this week, but at least one top tier issuer is understood to be considering a 10 year dollar benchmark in the next few weeks.

Nederlandse Waterschapsbank brought some supply to the sparse long end of the SRI market on Tuesday, printing a trade that alongside Rentenbank was part of a strong re-emergence of euro supply after the summer.

Hyundai Capital Services shook off North Korea-related worries to hit the bond market at the start of the week, managing to reach its goal of $900m across two tranches.

World Bank will find out whether what has been a resilient market for public sector dollar issuance over the summer can support a jumbo trade, after mandating for what will be the first such deal in dollars from an SSA since the spring. Swedish Export Credit Corporation is also out in the currency, going ahead despite some geopolitical and US governmental turmoil over the last few days — and more issuers are lining up to follow.

The euro market for public sector borrowers appears to be fully reopening after the summer break, with a pair of issuers bringing mandates in very different tenors. Both trades are likely to benefit from the lack of supply over the last few weeks, said bankers.

Hyundai Capital Services is kicking off the week with a dual tranche dollar deal that will be sold to investors in Asia, Europe and the US.

Indian lender IndusInd Bank has closed syndication for a $300m three year loan, with allocations likely to be out early next week.

Cairn India Holdings, which signed up new lenders for a $651m borrowing in late July, has received commitments from two more banks.

Jamaica underlined the issuer-friendly conditions on offer in EM bond markets this week after an oversubscribed tap of two bonds that left some investors with allocations of zero amid a simultaneous buy-back.

Public sector borrowers are adding new flavours to the flurry of emerging market paper that has dominated flows in the medium-term note market throughout the summer, printing trades in currencies they only rarely access.