Citi

A banner mandate for Santander underscores how far Citi has come in European investment banking, writes David Rothnie

Belarus will hit the road next week for a dual tranche dollar offering, in what could be its first successful attempt to access the market since 2011. Its economy is expected to contract 0.5% in 2017.

VIP Turkey Enerji, a subsidiary of oil and commodity company Vitol, has signed a $700m syndicated loan with 14 banks to finance the acquisition of Petrol Ofisi, Turkey’s largest oil distribution company.

Belarus will hit the road next week for a dual tranche dollar offering, in what could be its first successful attempt to access the market since 2011. Its economy is expected to contract 0.5% in 2017.

Tejas Networks launched its Rp7.8bn ($120.8m) India IPO on Wednesday with Abu Dhabi Investment Authority as the largest anchor investor.

Kommunalbanken built a doubly subscribed book on Tuesday for a long three year dollar deal that bankers said should give confidence to the market after a similar trade from KommuneKredit two weeks ago fell short of full subscription.

Russian supply is trickling through after Tinkoff Bank placed the sole deal from the region last week with Vimpelcom taking books on Tuesday of over $3bn at for a dual tranche offering, and Eurochem back for a another bite of the capital markets cash.

Korea East West Power Co (EWP) broke back into the market after a three year hiatus, grabbing $500m from a five year bullet on Monday.

Astra Sedaya Finance (ASF) has doubled the size of its offshore loan to $300m on the back of demand from 14 banks during general syndication.

A pair of SSAs are set to nip in with dollar deals ahead of a US Federal Open Market Committee meeting on Wednesday at which investors overwhelmingly expect a target rate rise — although the strength of that expectation has dipped slightly.

Compass Group, the UK food service company, has hired banks for a potential euro or sterling bond issue, though some investors have doubts as to whether the sterling credit market can shrug off the uncertainties of UK politics.

Citi has hired a senior high yield bond salesman to its team in London, after his recent departure from BNP Paribas.