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The Republic of Côte d’Ivoire’s plans to issue the first euro denominated trade from sub-Saharan Africa is dividing the market. Some see the trade as a sensible move to fund in the country’s “natural currency” while others argue that the trade could be a warning sign that we are reaching the top of the bull run.

The Irish government has fired the starting gun for the IPO of Allied Irish Banks (AIB), a potential €3bn deal, even though this means it will be in the market right through the UK general election, writes Aidan Gregory.

Investors threw their weight behind two IPOs in Asia this week, with WuXi Biologics set to price at the top of expectations in Hong Kong and Singapore’s HRnetGroup getting covered across the range.

Latvia launched a €350m dual tranche tap of its 2026 and 2036 bonds on Thursday morning, its second visit to the international markets this year.

Nederlandse Waterschapsbank’s first ever affordable housing bond raised €2bn across two tranches on Wednesday. One banker on the deal said he was “certain other borrowers will issue more like this”.

The long-awaited re-privatisation of Allied Irish Banks has begun at last, after the Irish government decided to press ahead with the IPO, which could raise about €3bn, in a sign of confidence in Ireland's economic recovery and the European IPO market.

Ivory Coast is using the strong investor bid for sub-Saharan Africa to fund in euros, to which its currency is pegged, and to reduce its dollar liabilities with a buyback. The deal is the latest example of borrowers from the region making smart use of the larger box of funding tools now available to them.

Chandra Asri Petrochemical is looking to bring a Rph6.2tr ($462.2m) rights-plus-block trade combo to the market, in what will be a liquidity event for the Indonesian firm.

Media Nusantara Citra has enlisted three lenders to syndicate a $200m loan that refinances a borrowing from 2014.

State Bank of India has hired a six-strong team of foreign and domestic firms to lead its up to Rp150bn ($2.3bn) capital raise, according to a banker on the mandate.

Singapore’s HRnetGroup has thrown open books for its up to S$174m ($125.7m) IPO and is preparing for a week-long roadshow, according to a termsheet seen by GlobalCapital Asia.

A $400m fundraising for Indian data analytics firm Mu Sigma has received commitments from two banks. The leads on the loan had invited lenders to join as sub-underwriters in March.