Citi

Asian bond issuers have finally decided to venture back into the market with a trio of investment grade names opening books to dollar deals. Export-Import Bank of China (Chexim), Shanghai Pudong Development Bank and Korea Development Bank are vying for attention in the first test of investor demand in three weeks.

Egypt’s Banque Misr is planning a loan for around $200m and will mandate lead banks next week, according to an official in talks with the bank.

Glencore is keeping its options open as to how it raises $2.5bn of fresh capital. The deal could come as an accelerated bookbuild or in another form, and the mining and commodities group has flexibility on timing.

Citigroup has hired Giacomo Ciampolini, the equity capital markets block trade specialist on Goldman Sachs’s syndicate desk. He will have a dual role as head of Italian ECM and working on accelerated bookbuilds.

Supranational and agencies could add to a small flurry of medium term notes in Colombian pesos in the coming weeks, said bankers, as a sell-off in the currency fuels demand from investors.

Barclays began marketing a multi-tranche Samurai trade on Monday, as some FIG bankers claimed European banks were still baulking at the new issue premiums being offered by US visitors to the euro market.

Prabhat Dairy limped over the finish line with its IPO, with the Indian producer of milk and dairy products pricing the deal at the bottom of the range after being forced to extend bookbuilding and drastically slashing price guidance.

Citi has been quick to capitalise on the reopening in the Australian RMBS market with a new A$500m ($346m). It follows hard on the heels of Commonwealth Bank of Australia’s (CBA) recent A$2bn trade that came after a jittery period in markets.

Lotte Group has shortlisted seven candidates for the proposed listing of its hotel chain business, having sent out a request for proposals last month.

Municipality Finance

Bankers and funding officials this week might have been tempted to strap on a blindfold at points during the execution of the only dollar benchmark in a fortnight.

Shares in Abengoa, the troubled Spanish renewable energy company, plunged again on Thursday and its credit default swap spread widened sharply, on unconfirmed reports in the Spanish press that banks including Bank of America Merrill Lynch, Citigroup and Société Générale had declined to underwrite its rights issue.