Citi

India’s Au Small Finance Bank has begun a three day bookbuild for its Rp19.1bn ($295.6m) IPO, with leads not worried by it being placed on the central bank’s caution list for foreign shareholding.

Asian issuers flooded into the debt market on Tuesday, as seven credits battled for attention amid a somewhat positive tone in the market. Greenland Hong Kong Holdings grabbed $200m, while China Gold International Resources Corp nailed a $500m three year and Shimao Property Holdings sealed a tap.

The European leveraged finance market was disappointed this week when Bain Capital’s and Cinven’s €5.3bn bid for German generic drug firm Stada fell apart.

Euro conditions are excellent for public sector borrowers, with Spain pulling in a nearly €30bn book for an €8bn 10 year — which bankers away from the trade said indicated a high presence of quality investors — and KfW raising €5bn after picking a seven year deal over a shorter tenor. Another pair of issuers are now looking to take advantage.

The Inter-American Development Bank is set to tackle the 10 year part of the dollar curve, a maturity that most of its peers have avoided so far this year.

EuroChem had taken books of $1.2bn by lunchtime on Tuesday after opening books on a four year trade a week after finishing its roadshow. Falling oil prices and a Russia sovereign trade last week meant the issuer decided to wait for a firmer market before launching its deal.

NetLink Trust has kicked off bookbuilding for its up to S$2.7bn ($1.9bn) IPO, set to be Singapore’s largest listing in half a decade, according to a source close to the trade.

The euro market for public sector borrowers looks set to kick back into action after a quiet last week, with a pair of big borrowers mandating for trades to come on Tuesday.

Delivery Hero, the German online food delivery platform, is set to price its €866m IPO at the top of its range, following the latest guidance on pricing on Wednesday morning.

Toby Ali has left his leveraged finance job at Bank of America Merrill Lynch to join Citi.

Kyobo Life Insurance Co and Korea Hydro & Nuclear Power Co have mandated banks for new dollar outings.

South Korea's Nonghyup Bank is readying investors for its annual dollar bond.