Citi
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One of India’s largest port operator Adani Ports and Special Economic Zone is venturing into the international bond market for the first time having started gauging investor sentiment this week. -
Nokia is refinancing a €1.5bn credit facility as part of its acquisition of Alcatel-Lucent, in a test of whether its relationship banks support the merger — one that could lead to turbulence around the pricing.
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Korea Hydro & Nuclear Power (KHNP) raised $300m on June 8 as it continued its tradition of tapping the international bond market at least once a year since 2010.
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The transaction that was supposed to open up the additional tier one market in South Korea ended up having the opposite effect last week as Woori Bank’s penny-pinching led to a heavy sell-off in secondary. Woori is unlikely to be damaged by the incident, but it needs to recognise that its actions have consequences for the rest of the market.
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Brazilian aircraft manufacturer Embraer’s decision to wait to return to international bond markets appeared vindicated on Monday as it attracted a hefty book as conditions improved in LatAm credit markets.
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Konecranes, the Finnish crane manufacturer and servicer, has refinanced a €200m revolving credit facility with its core relationship banks.
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Oilfield equipment provider Hilong Holdings has launched a $100m loan into general syndication. Two banks are arranging the loan for the company, which made its debut in the offshore syndicated loan market in 2013 and has visited annually since.
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National Bank of Egypt (NBE) has picked banks for its first bond deal in five years, hot on the heels of its sovereign’s return the international public markets last week.
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Red Star Macalline Group Corp, known for its home improvement and furnishings shopping malls in China, has started testing investor appetite for a roughly $1bn Hong Kong IPO, which will simultaneously give investors a taste of a property and consumer story.
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FIG issuers paid double-digit new issue concessions across the board in the dollar market this week as they were rocked by choppy market conditions.
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The Egyptian sovereign, although beset by economic and political challenges, still drew hundreds of investors into a $1.5bn 10 year bond on Thursday — marking a triumphant return to the public bond market after a five year absence.
