Citi

The Middle East remains the mainstay of the CEEMEA bond market, with borrowers continuing to put plans in place. National Bank of Oman has picked banks for its first ever additional tier one deal, becoming the latest in a long line of Middle East credits to mandate for dollar perpetuals.

Archer Daniels Midland, the US food processing and commodities trading company, ended a fallow patch in the corporate bond market on Wednesday, making its debut in the euro market with a dual tranche deal.

A Cambodian borrowing has hit the offshore syndicated loan market. The $80m deal for Khmer Brewery has three banks at the helm, which are understood to be targeting banks that have an existing presence in the southeast Asian nation.

Mexican hotel operator Grupo Posadas has picked banks for a roadshow in Europe and the US.

Archer Daniels Midland, the US food processing and commodities trading company, ended a fallow patch in the corporate bond market on Wednesday, making its debut in the euro market with a dual tranche deal.

IndiGo, the Indian budget airline, has fine-tuned its corporate structure to create more headroom for foreign investors as it inches closer to a $400m-$500m IPO in the second half of the year or 2016.

Middle East mandates are keeping CEEMEA supply hopes alive in a difficult market, and even Ramadan’s arrival will not close the window for new deals.

A pair of borrowers printed oversubscribed dollar deals in conservative maturities on Tuesday, finding conditions easier than at the long end of the euro curve.

Another bank has joined the procession of Middle East borrowers targeting perpetual deals, and picked banks for its first ever bond in that format.

Banca Monte dei Paschi di Siena made a successful conclusion to its €3bn rights issue this week, when the last tiny scrap of shares was swiftly auctioned on Tuesday.

Two SSA borrowers are out with dollar deals early this week — trades that could set the tone for the rest of the week’s issuance in the currency.

Russia’s Industrial Metallurgical Holding (KOKS Group) has picked banks for a potential 4.5 year dollar bond deal, which would be the first international Russian corporate bond for seven months.