Citi
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KfW became the first supranational or agency to sell a euro-denominated five year benchmark with a negative yield on Tuesday. -
After a bumper week in dollars, euros will be back on the CEEMEA table this week with PKN Orlen and Croatia wrapping up meetings on Tuesday. But the European Central Bank meeting on Thursday and US data on Friday is expected to keep issuance limited this week.
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Property developer Frasers Centrepoint is likely to begin bookbuilding on Friday for a potential S$900m ($651.5m) real estate investment trust IPO in Singapore, a source close to the deal told GlobalCapital Asia.
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Indian mortgage lender HDFC has launched a $375m five year loan into general syndication and is poised to receive the entire amount from the leads this week.
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Indonesia’s Sri Rejeki Isman (Sritex) is poised to launch a new bond on June 1 as soon as a tender offer to buy back its outstanding notes expires.
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Indonesia’s Cikarang Listrindo has allocated its Rph3.6tr ($264m) IPO to an investor base comprising mainly long-only accounts, deciding not to enlarge the float despite having enough demand, said a source with direct knowledge of the matter.
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Korea Gas Corp (KoGas) has kicked off preparations for its first international bond of the year, which will hit the market next month.
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Philips Lighting and Maisons du Monde’s IPOs have run precisely along the same timelines, with many similarities in how the sales went, and today their debut trading performances also ran in parallel, as both stocks jumped. Philips Lighting closed up 10% and Maisons du Monde 5.9%.
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Cemex Holdings Philippines is planning to start pre-marketing its potential $500m IPO from the first week of June, according to a source with direct knowledge of the matter.
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Guangzhou Rural Commercial Bank has sent out a request for proposals to banks to lead its up to $1.5bn Hong Kong listing, said a source who has received the RFP.
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Midea Group found a strong following this week for its international debut bond. While the lack of deals from its industry peers posed a challenge in finding comparables, the notes thrived on their rarity value.
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