HSBC
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La Mondiale gave investors a rare chance to put money in restricted tier one (RT1) ranks this week. The bond was oversubscribed by more than 10 times but the insurance company paid a hefty premium to do the deal, according to one source away from it. However, one of the leads disagreed and said the bond was priced “probably inside fair value”.
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Chinese central government-owned China National Travel Service Group Corp (CNTS) made a quick return to the dollar bond market this week, extending its maturity profile with a $600m dual-tranche transaction.
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India's Vedanta, Syndicate Bank make loan comeback — Shanghai Sinnoil defaults on $400m loan — Fullerton allocates $250m among 17 banks — Lesso closes $1.1bn refi — Indorent holds non-deal roadshows
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Industrial Bank of Korea (IBK) raised $600m on Wednesday from a combination of fixed and floating rate notes.
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VodafoneZiggo, the Dutch telecoms joint venture evenly split between Liberty Global and Vodafone, is raising €3.1bn in fresh capital. It joins industry peers such as Salt, Wind Hellas and Altice France who have rushed to the market this autumn to take advantage of favourable conditions.
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The World Bank seemed to find the point of investor exhaustion with its 10 year dollar deal on Wednesday following a recent spate of successful similar deals from other borrowers.
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Kommunalbanken has picked the banks to lead its first euro benchmark since 2017, while the European Stability Mechanism has sent out a request for proposals for its upcoming transaction.
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Aldar Investment Properties has raised a 10 year $500m sukuk, achieving a tightening of 35bp beyond initial guidance.
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The African Export Bank (Afreximbank) has confirmed its intention to float on the London Stock Exchange, paving the way for a $250m IPO.
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China Construction Bank returned to the international bond market on Tuesday, turning to dollar and euro investors with two separately-executed deals worth a combined $1.551 billion.
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Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.
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The UK’s Informa brought a €500m no-grow bond on Tuesday, a deal for the publishing and events company that won praise from onlooking bankers.