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Investors balk as ONGC chances loose covenants
Oil and Natural Gas Corp (ONGC), the largest crude oil and natural gas company in India, tussled with bond investors during marketing for its latest dollar deal this week. Investors pushed back against ONGC’s demanding terms and forced a last-minute flip-flop over a change of control clause. Morgan Davis reports.
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SBI Cards sets ball rolling on $1.3bn India IPO
SBI Cards and Payment Services filed listing documents with India’s regulator this week for an IPO of up to Rp95bn ($1.33bn). The deal is on track to be the largest listing the country has seen for more than two years, writes Jonathan Breen.
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SBI readies Rp80bn share sale in card business IPO
State Bank of India is looking to raise about Rp80bn ($1.1bn) by selling a minority stake in SBI Cards’ planned jumbo IPO, according to a banker on the mandate.
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Axis Bank to take home Rp100bn from equity placement
Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.
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SBI offers Rp27bn stake in life insurance unit
State Bank of India is looking to raise at least Rp26.95bn ($378m) from a stake sale in SBI Life Insurance Co, receiving a flood of early demand.
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Bajaj Energy wins Sebi approval for Rp55bn IPO
Power plant operator Bajaj Energy has got the greenlight from India’s market regulator to launch a Rp54.5bn ($756.7m) IPO of primary and secondary shares.
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Carlyle-backed SBI Card seeks bookrunners for IPO
SBI Cards and Payment Services, the credit card subsidiary of State Bank of India, has invited investment banks and lawyers to submit proposals to work on its IPO.
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Sterling and Wilson Solar gets Sebi nod for Rp45bn listing
India’s securities regulator has given the greenlight for Sterling and Wilson Solar’s IPO, which could raise up to Rp45bn ($655m).
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India’s Sterling and Wilson Solar preps Rp45bn listing
Sterling and Wilson Solar, the solar power business of Indian conglomerate Shapoorji Pallonji Group, is eyeing a listing of up to Rp45bn ($648m), having filed a draft prospectus this week.
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Emami Group nabs $223.5m from share sale
The controlling shareholders of India’s Emami Group sold a 10% stake in the company to pay off debt this week.
State Bank of India (SBI) In The Key League Tables
Asset | Rank | STLY | Amount $bn | No of issues | Share % | STLY Share % |
---|---|---|---|---|---|---|
|
||||||
Asia Pacific (ex-Japan) Involvement M&A Advisory | 8 | 3.20 | 1 | 2.53% | ||
Bookrunners of India DCM | 12 | 13 | 0.61 | 7 | 2.79% | 1.65% |
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Bank Profiles
Latest news by market and league table performance
Bond Comments
-
Commerzbank EUR500m 0.5% Dec 26
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Intesa Sanpaolo EUR750m 0.75% Dec 24 green
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Islamic Development Bank EUR1bn 0.037% Dec 24
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NN Bank EUR500m 0.375% Feb 25
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Nykredit Realkredit EUR500m 0.25% Jan 23 non-preferred
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Caixa Geral de Depósitos EUR500m 1.25% Nov 24 non-preferred
-
UK DMO GBP2.25bn Inflation linker Aug 41 tap
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Rentenbank EUR1bn 0% Nov 29
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Land NRW EUR1bn 0% Nov 29, EUR1.5bn 0.5% Nov 39, sustainable bond
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Kommuninvest USD1bn 1.625% Apr 23 green bond
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Arab Republic of Egypt USD500m 4.55% Nov 23, USD1bn 7.05% Jan 32, USD500m 8.15% Nov 59
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BNG EUR750m 0.05% Nov 29 sustainability bond
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KfW EUR1bn FRN Nov 22
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EAA EUR1bn 0% Nov 22
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EFSF EUR1.5bn 0.05% Oct 29 tap
All International Bonds
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 381.18 | 1768 | 8.35% |
2 | Citi | 352.10 | 1516 | 7.71% |
3 | Bank of America Merrill Lynch | 303.24 | 1307 | 6.64% |
4 | Barclays | 273.33 | 1144 | 5.99% |
5 | HSBC | 225.32 | 1243 | 4.93% |
Bookrunners of All Syndicated Loans EMEA
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | BNP Paribas | 56.71 | 230 | 8.32% |
2 | Credit Agricole CIB | 44.23 | 207 | 6.49% |
3 | JPMorgan | 34.02 | 99 | 4.99% |
4 | UniCredit | 30.28 | 160 | 4.44% |
5 | SG Corporate & Investment Banking | 29.88 | 150 | 4.39% |
Bookrunners of all EMEA ECM Issuance
Rank | Lead Manager | Amount $bn | No of issues | Share % |
---|---|---|---|---|
1 | JPMorgan | 13.16 | 82 | 8.27% |
2 | Goldman Sachs | 12.58 | 64 | 7.90% |
3 | Morgan Stanley | 12.18 | 55 | 7.65% |
4 | Citi | 10.09 | 71 | 6.34% |
5 | Credit Suisse | 6.93 | 38 | 4.35% |