Citi

BorgWarner, the US car engine and drivetrain maker, furthered the return of reverse Yankee bonds to Europe's corporate market on Monday, by issuing a €500m seven year no-grow deal.

Istituto Centrale delle Banche Popolari Italiane (ICBPI) began offering its €1.1bn PIK bond with fixed and floating rate tranches on Tuesday, the first time such a structure has been used in the European high yield market, according to bankers.

The Export-Import Bank of Korea (Kexim) timed its first outing to the offshore bond market after a sovereign rating upgrade perfectly. This time around, the Korean policy bank kept money on the table to woo US investors rather than relying on strong onshore demand to be aggressive with pricing.

The Hashemite Kingdom of Jordan has released initial price thoughts of 6.75% area for a new January 2026 bond. The bond is the country's first international deal in five years not to have a US government guarantee, according to Dealogic data.

The Kenyan government has launched syndication for its second syndicated loan, a $600m two year deal. Bankers expect interest from a broader spectrum of lenders than the country's first syndicated loan in 2012.

ICBCIL Finance, a wholly-owned subsidiary of Industrial and Commercial Bank of China, has set its sights on a triple-tranche dollar offering split between three and five year fixed rate notes as well as a three year floating rate tranche.

The Republic of Macedonia has mandated Citi, Deutsche Bank and Erste Group to arrange a euro denominated bond.

National Bank of Oman has mandated five banks for a dollar perpetual additional tier one (AT1) bond and is starting the roadshow for the deal on November 5.

The Commercial Bank of Dubai has mandated six banks to arrange a Reg S dollar benchmark bond, and is starting the roadshow for the deal on Thursday.

InterGlobe Aviation and SH Kelkar & Co have found huge success with their respective Indian IPOs, with books multiple times covered as investors flooded into the transactions.

China State Construction Engineering Corp has picked seven banks to arrange a roadshow ahead of its return to the offshore debt market.

The Export-Import Bank of Korea (Kexim) is testing investors’ appetite for a dollar bond, its first since receiving a credit boost from Standard & Poor’s in September.