Citi

Telecom hardware company Tejas Networks has returned to the market for a listing, having first proposed an IPO before the financial crisis.

US coatings maker Axalta on Tuesday sold a €450m bond to redeem its 2021 euro notes, a month after it redeemed its 2021 dollars, cutting its coupon by 200bp.

A jumbo bond intended to refinance the debt of merged companies Quintiles and IMS on Wednesday added to a deluge of high yield issuance, with the market seeing €4bn of new bonds by Thursday.

State Bank of India launched the first-ever offshore Basel III compliant additional tier one (AT1) bank capital offering from an Indian name on Wednesday, a deal market participants expect to set the pricing benchmark for future Indian lenders from this asset class.

BOC Aviation is out with a $1bn borrowing, opening the dual tranche deal into general syndication on Tuesday, according to bankers.

Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.

Some 54 anchor orders of more than $50m each helped Mexican oil company Pemex to raise $4bn of new bonds on Tuesday despite volatility sweeping Lat Am bond markets following a sell-off in US Treasuries.

Deal fatigue is not a term World Bank investors seem familiar with after they put in $4bn of orders on Tuesday for the borrower's fourth five year dollar benchmark of the year, allowing it to be priced at the tight end of guidance.

The prospect of the first international bank capital trade from India is closer with State Bank of India on the road this week for a dollar-denominated additional tier one. While it has picked a good window, it needs to get the pricing right or risk derailing the rest of the market.

Industrial Bank Co has thrown open books for a dual-tranche dollar offering following a series of fixed income investor meetings at the start of the month.

The World Bank mandated four banks on Monday to sell a five year dollar benchmark. The bond will be the borrower's first benchmark at the maturity since May.