Citi
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Glenmark Pharmaceuticals sealed its debut $200m international bond at a yield of 4.5% on Monday, which bankers on the deal said was the tightest pricing achieved by an Indian high yield name. -
The scorching pace of Indian IPOs looks set to continue as Dilip Buildcon prepares to launch a Rp6.53bn ($97.5m) listing next week, with bankers expecting a solid response from investors.
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Ecuador gave as good a show as possible that technicals are outweighing fundamentals in EM bond markets with a new $1bn bond due 2022 just a week after announcing the worst fall in GDP since the introduction of the US dollar as the currency.
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A stream of dollar issuance over the last few weeks looks like it will keep flowing right into this Wednesday’s US Federal Reserve meeting, after a pair of borrowers mandated on Monday for no-grow $1bn deals.
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South Korea’s Kookmin Bank and Indian’s Glenmark Pharmaceuticals ventured out to the dollar debt market on Monday with their respective bonds.
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Fosun International-backed insurer Ironshore is looking to raise some $100m via a US listing in a trade to feature only secondary shares, according to a filing with the US Securities and Exchange Commission.
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The government of Sri Lanka’s $300m three year borrowing has received a chunky commitment in syndication, according to a source.
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Empresa Nacional de Petróleo (Enap), the Chilean state-owned oil company, will begin meeting investors on Monday ahead of a planned first dollar bond in nearly two years.
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In this round-up, China eases rules on foreign investment in the free trade zones (FTZ) and OTC Clear receives approval to clear CNH cross currency swaps (CCS). Plus, a recap of GlobalRMB’s top stories this week.
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KB Asset PE Fund has raised W90.5bn ($79.1m) from an overnight sale of shares in South Korea’s LIG Nex1, in a deal that saw investors piling in to take advantage of one of the last chances of a block in the stock.
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Indian mortgage lender HDFC has allocated its $375m loan among 17 banks, introducing a smaller ticket level after launching general syndication to accommodate some lenders’ requests.
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