Deutsche Bank
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Europe's low yield environment has prompted a dramatic increase in Chinese issuers printing euro bonds this year. And with Beijing Enterprises and Yuexiu Transport Infrastructure raising a combined €700 ($772m) on April 29, observers are confident this trend is only about to get stronger.
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Two banks are due to join Indonesian palm oil producer Royal Industries’ $500m dual trancher. The loan has had a long run in syndication, with the deadline for commitments extended twice already.
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India’s Bharat Petroleum Corp (BPCL) has made a successful return with a new 10 year trade. Although the Asian bond market was crowded with deals this week, the Indian oil and gas company managed to find a good window to raise $500m.
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Guatemalan lender Banco de los Trabajadores (Bantrab) did not price its subordinated pass-through note on Wednesday as scheduled, but the deal has not been cancelled.
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Labco, the French medical diagnostics firm, opened the book on Wednesday for its initial public offering, which could total €545m at the top of the price range.
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Solairedirect, the French solar power developer and asset manager cancelled its planned Paris IPO on Wednesday, having tried, but failed, to get enough investors on board until the very final day of bookbuild.
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Dong Energy became the latest in a string of companies to refinance hybrid capital bonds this year, when it issued a €600m 1,000 year non-call 5.5 deal on Wednesday.
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FMS Wertmanagement surprised dealers on Wednesday by mandating for its first Kangaroo bond in more than three years.
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Brazilian cement company Votorantim Cimentos is planning a euro transaction and has picked banks for a May roadshow.
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India’s Bharat Petroleum Corp (BPCL) has opened books to what will be its first dollar outing since October 2012. Ahead of its comeback, the Baa3/BBB- rated Indian borrower met potential investors in Asia and Europe.
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Solusi Tunas Pratama (STP) has gone on the road for its up to Rph3.91tr ($302.24m) follow-on in Indonesia, as the telecommunications tower operator looks to give investors exposure to a liquid play on the sector.
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Aroundtown Property Holdings, an unlisted member of Yakir Gabay’s stable of property investment companies, has issued a €450m pre-IPO convertible, which embodies a strong pledge that the company will float within the next 12 months.