Citi
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The Asian G3 debt market opened on Monday with two deals from financial names and a mandate, in addition to two launches from corporates, following the positive sentiment overnight from the French presidential election. -
The Democratic Socialist Republic of Sri Lanka wowed investors with its new 10 year outing, securing a massive $11bn order book for a $1.5bn deal.
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Ant Financial subsidiary Alipay (Hong Kong) Holding will increase the size of its $3bn loan, taken to partly support its bid to acquire Dallas-based MoneyGram, according to bankers. The news comes about a fortnight after Alipay raised its offer for MoneyGram by around $300m.
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The Belgian government sold the first chunk of its stake in BNP Paribas for €2bn through a structured trade that began on Wednesday night. The four bookrunners priced the trade aggressively and were left long of some stock, but luck has been with them so far, write Jon Hay and Aidan Gregory. They will be praying their fortune holds and Emmanuel Macron wins the second round of the French presidential election on Sunday.
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The Republic of Turkey has launched its largest 30 year bond since 2010, as investors shrugged off the recent constitutional referendum and dived in to catch the sharp rally in the country's spreads.
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Anglo-Swiss commodity trading and mining company Glencore closed a $7.3bn one year revolving credit line on Wednesday.
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Saudi Arabia’s ACWA Power priced its long awaited debut bond on Wednesday, raising $814m with the secured note. Months of work spent structuring the deal and educating investors were rewarded, with the borrower achieving a combination of size and price it would not have managed with a plain vanilla bond, said a lead banker.
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Saudi’s ACWA Power priced its long awaited debut bond on Wednesday, raising $814m with the secured note. Months of work spent structuring the deal and educating investors were rewarded, with the borrower achieving a combination of size and price it would not have managed with a plain vanilla bond, according to a lead banker.
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Senegal will meet investors next week ahead of a potential return to the dollar market for the first time in nearly three years.
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An inaugural deal from second tier Turkish lender Fibabanka on Wednesday offered further proof that concerns over the country’s political direction have failed to dampen investor confidence in its banks.
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The Republic of Turkey is out with guidance for a new 30 year note, in a move that rival bankers have said is “perfectly timed". The sovereign is on track to complete all of its planned funding for the year in the first five months.
