Citi
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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. -
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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The recent success of Indian borrowers in the offshore bond market has sparked talk of a revival in issuance from the nation. While abundant market liquidity and the low yielding environment are a boon for issuers in the high beta country, the window is expected to be short lived, writes Narae Kim.
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A secondary sell-down in shares of South Korea’s LIG Nex1 is seeing a hot reception in the market, with the block expected to price at the top of the range to raise W90.5bn ($79.1m).
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Kazakhstani crude oil company Tengizchevroil (TCO) pulled in pricing 50bp from initial guidance on Wednesday to print its $1bn 2026s only 10bp over the Kazakhstan sovereign, according to a bookrunner on the deal.
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US banks, which opened second quarter reporting this week and last, said Brexit had driven ‘new peaks’ in volumes at trading divisions, with signs of market share gains for the US houses as well.
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Dutch-American materials firm Advanced Metallurgical Group has amended a $320m loan. The issuer also improved the terms of the deal, having made a commitment in 2011 to lower its leverage.
