Citi
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Hindustan Petroleum Corp (HPCL) on Wednesday sealed its inaugural international bond, a $500m 10 year deal. The company capitalised on a strong bid for Indian paper, and managed to price flat to its oil and gas peers with a similar government backing. -
Two Chinese banks sold dual tranche floating rate dollar bonds this week, taking advantage of the market’s enthusiasm to raise a combined $1.8bn. But the eagerness for the format appears to be waning.
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Shanghai Pudong Development Bank Co is back in the market with a dual tranche floating rate dollar deal, which it is selling through its Hong Kong branch.
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Hindustan Petroleum Corp (HPCL) opened books for its debut dollar transaction on Wednesday morning, and is looking for a 10 year bullet.
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Banco Santander has launched its €7.07bn fully underwritten rights issue to support its acquisition of the failed Banco Popular Español, saying it expects to make a return on investment on the deal of 13% to 14% by 2020.
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The European Financial Stability Facility on Tuesday enjoyed the rare treat of bringing a dual tranche trade that garnered more interest for the longer than the shorter leg. That result surprised bankers away from the deal — but one of the leads said it may have been due to real money investors taking a punt that the end of eurozone quantitative easing is further off than some of their peers think.
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Turkey’s first privately owned development and investment bank Turkiye Sinai Kalkinma Bankasi (TSKB) has refinanced a loan which matured last Wednesday with a $297m facility from a syndicate of 18 banks.
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India’s Au Small Finance Bank is on track to price its IPO at the top of guidance, raising the lender Rp19.1bn ($294.5m) after the deal was subscribed more than 50 times.
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A sell-off in rates over the last few trading days should support the European Financial Stability Facility’s first trade of the third quarter, said bankers. The supranational mandated banks on Monday for a dual tranche trade in the belly and long end of the euro curve.
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Raiffeisen Bank Polska’s IPO on the Warsaw Stock Exchange, which kicked off on Thursday to raise up to Z947.8m (€224m), is expected to be a mainly local affair, said bankers close to the deal.
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