Citi
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India’s divestment body is hunting for firms to manage New India Assurance Co’s IPO, one of five state-owned insurers the government plans to take public. -
Indonesia Eximbank is meeting investors for its second dollar bond, while Indika Energy is looking to refinance its 2018s with new notes.
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Allocations have emerged for a $1.75bn multi-tranche borrowing by Indian conglomerate Reliance Industries, with retail liquidity ending up concentrated on a longer dated portion.
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Commodities trader Trafigura has signed its latest 364-day syndicated revolver at $2.27bn, up from the launch size of $1.5bn.
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A $1.75bn borrowing for Indian conglomerate Reliance Industries, which entered general syndication at the beginning of February, has wrapped up, with allocations expected to be issued soon.
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A slowdown in Latin American bond issuance and renewed enthusiasm for EM debt in the wake of last week’s Federal Open Market Committee (FOMC) meetings opened the door for Paraguay to sell a $500m 10 year deal.
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Turkiye Sinai Kalkinma Bankasi (TSKB) brought new flavour to the SRI bond market this week with the first ever sustainable subordinated tier two, but the deal fell short of being a major milestone as many investors who follow green bonds are not able to buy such paper. Virginia Furness reports.
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Volkswagen stormed back into bonds on Thursday for the first time since its emissions test cheating scandal 18 months ago. And the €8bn blowout that paid investors a chunky premium to allay their fears about the company is just the start of the firm’s market rehabilitation, writes Michael Turner.
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Only one SSA issuer took advantage of strong conditions in the dollar market this week. Bankers said that there could be more supply next week, though most issuers are so well-funded that deals are likely to remain thin on the ground.
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World Bank sold a €90m zero coupon 40 year bullet MTN towards the end of last week — its longest ever non-callable deal.
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New deals marketed this week by US borrowers Owens-Illinois and Federal-Mogul pushed reverse Yankee issuance to 25% of the €22bn of euro high yield issuance so far in 2017.
