Citi
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The Indian government has shortlisted five banks to pitch for lead roles in its sell-down of iron ore miner NMDC, in a deal that could raise Rp35.6bn ($527.5m) based on its market capitalisation, according to a notice from the Department of Disinvestment on Thursday. -
China’s Midea Group is looking to gauge interest for its maiden outing to the international bond market, just days after announcing a multi-billion-euro acquisition in Germany.
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The European Central Bank’s corporate sector purchase programme will distort CEE corporate bond prices, said bankers this week. And while issuers have so far been slow to react in bringing new deals to market, two CEE corporates printed successful euro denominated bonds this week.
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Kuoni, the Swiss travel firm, finally allocated a €575m seven year cov-lite term loan ‘B’ at much wider pricing than original talk, and after a drawn out syndication process.
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Indian pharmaceutical firm Laurus Labs is planning a Rp10bn ($148.7m) IPO this year and has lined up three banks to lead it, according to a source close to the deal.
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Export-Import Bank of Korea (Kexim) set a new benchmark this week with what bankers say is the first triple tranche deal out of South Korea. The policy bank managed to bring high quality US investors into its three year notes, while also sealing tight pricing on the longer-dated portion.
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Hotel Lotte Co is aiming to raise as much as W5.7tr ($4.8bn) from its South Korean IPO and is due to start pre-marketing on Friday.
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British motor oil and lubricant producer Castrol has raised Rp20.8bn ($309m) after selling a block of shares in its subsidiary Castrol India.
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Bankers and investors are paying close attention to BOC Aviation as it navigates the market with its HK$8.7bn ($1.1bn) IPO, set to be one of the largest listings of the year in Hong Kong. But what sets this deal apart is that despite its link to Chinese state-owned Bank of China, it is not being propped up by friends and family investors. Jonathan Breen reports.
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Citi is on a mission to win market share in Europe, irrespective of market conditions, writes David Rothnie.
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Czech Railways printed its €400m seven year bond on Wednesday attracting buyers looking for a pick-up over tightly trading western European corporate debt.
