Citi

Israel Chemicals has released initial price thoughts for a 10 year note, copying the form set by Israel Electric — which printed the same tenor on November 5.

Hapag-Lloyd, the German container shipping company, jumped into the high yield bond market on Thursday for a drive-by sale of a €250m bond, to refinance a deal maturing next year.

Alibaba was due to price its landmark bond in the early hours of Friday having launched final price guidance after Asian markets closed the night before. Bankers were staying tight lipped but investors said the deal could easily reach $10bn though debate was divided about what is fair value, write Lorraine Cushnie and Narae Kim.

Philippine conglomerate Ayala Corp’s blue chip reputation helped it net Ps12.35bn ($275m) in a hotly-received top-up placement on November 19, leading to the final offer being increased from an initial Ps8.98bn.

Reliance Jio Infocomm’s $1.5bn dual tranche loan that opened in September has been allocated among 26 lenders, 11 of which joined during general syndication. Thin pricing did not stop Taiwanese, Japanese and Middle Eastern lenders from piling into the deal, as it gave them a chance to form a relationship with India’s biggest private sector company.

Citi India has appointed UBS veteran Arvind Vashistha as head of equity capital markets for India.

Hyundai Samho Heavy Industries has offloaded all of its shares in industrial materials producer KCC Corp to net W415.2bn ($374m). Investors were extremely eager to get their hands on KCC’s stock because of its association with Cheil Industries, the de facto holding company of Samsung Group that is preparing for a chunky IPO.

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Israel Chemicals is out with initial price thoughts for a 10 year note and follows hot on the heels of Israel Electric which printed the same tenor on November 5.

Investors showed they were keen to get exposure to the India story, with orders flooding in for NTPC’s 10 year outing on November 19. US investors in particular, made up a good chunk of the book for the Reg S bond from India’s largest power generation company, which offered some much needed diversity away from China.

AstraZeneca, the Anglo-Swedish pharmaceutical company, priced a €750m seven year bond on Wednesday. It was four times oversubscribed and priced somewhere near the middle of the broad range suggested by the bonds of its peers.

Spain could wrap up its funding target for the year at an auction of three and five year debt on Thursday, but while the yield is likely to fall on the shorter bond the longer dated paper’s yield is set to rise. Meanwhile, Cassa Depositi e Prestiti looked set to pass its first syndication test since May after setting pricing on a January 2018 bond at the tight end of initial price thoughts on Wednesday.