Citi

Nigeria has picked three banks to manage its first sovereign trade since July 2013.

Chinese local government financing vehicle (LGFV) Yunnan Provincial Energy Investment Group returned to the international bond market on Tuesday, netting $440m from a dual-trancher. Market participants reckoned the company paid a premium amid a volatile market backdrop.

Nine banks have banded together to arrange a $750m dual tranche facility for Bank Negara Indonesia (BNI).

Citi has appointed James Arnold as its new head of Asia Pacific DCM syndicate, replacing Duncan Phillips who left the bank in October.

Indian pharmaceutical firm Laurus Labs has opened books for an IPO that could raise Rp13.3bn ($195.3m), set to be the year's last big listing in the country.

Chinese local government financing vehicle (LGFV) Yunnan Provincial Energy Investment Group is making its return to the international bond market, marketing a dollar-denominated dual tranche offering on Tuesday.

Infrastructure investment trust (InvIT) India Grid Trust has taken its first step towards going public, submitting a draft red herring prospectus on December 2.

A dual currency acquisition financing for Indian company Intas Pharmaceuticals’ purchase of a portfolio of assets in the UK and Ireland, was launched into senior syndication last week. The trade offers banks two titles, including that of mandated lead arranger and bookrunner.

Catalent Pharma and Thomas Cook — a reverse Yankee issuer and a UK holidays operator — on Thursday released guidance for high yield deals amounting some €900m in a market that has been mute since November 15.

The Republic of Indonesia has reopened the G3 emerging market sovereign bond market, printing the first deal since the US election and raising $3bn in a triple tranche issue on December 1.

The busy equity block trade action in Europe since the US election has continued into its third week, though market participants are beginning to brace for the outcome of the Italian referendum on Sunday.

A trio of Wall Street heavy-hitters plundered the dollar market as December got off to a flyer in the countdown to year end and a probable rate rise.