HSBC
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Dubai Aerospace Enterprise has made a quick offshore loan comeback, aiming to raise $300m.
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The Export-Import Bank of Thailand played to investors’ need for diversity on Wednesday, marketing a $300m-capped transaction at a very tight rate.
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Nordic Investment Bank funding officials considered printing its $1bn bond this week inside its curve before deciding against the ruse in order to support secondary trading, with Japan Bank of International Co-operation next in line to test the vast demand for five year dollar bonds.
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China’s State Development and Investment Corp (SDIC) launched a $1bn transaction on Tuesday, split between a green bond and a conventional bond. Investors shook off trade war worries to swarm both portions of the deal with orders.
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The UK Debt Management Office (DMO) started its 2019/20 funding year with a bang on Tuesday, selling a six and a half times subscribed issue.
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The Nordic Investment Bank’s $1bn no-grow five year passed easily through the market on Tuesday. Syndicate bankers away from the trade said the market is so receptive that any top tier dollar trade at that maturity is going to succeed.
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France’s Vilmorin & Cie has launched a €150m multi-tenor Schuldschein, as French corporate appetite for the traditionally German private debt market shows little sign of abating.
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Mexican state-owned oil company Petróleos Mexicanos (Pemex) was the highlight of a difficult start to the week for Latin American bonds. But though news of a new $8bn loan allowed it to outperform the market, analysts warned its troubles were far from over.
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Dollars burst into life on Monday with Nordic Investment Bank (NIB) and FMO opening books, as bankers away from the deals point to the ‘EIB effect’ in making the market too hot to resist.
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The International Finance Corporation printed the first offshore Cambodian riel-linked note last week. The bond’s proceeds will go towards the creation of a local capital market in Cambodia and the expansion of local currency lending in the country.
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A hail of high yield and leveraged loan deals hit the European market this week, making it seem like investors and bankers were unaware of the angst permeating equity markets since President Donald Trump decided to up the ante in his trade poker game with China. Not every deal was a blowout, however — United Group priced its PIK note wide of guidance and Virgin Media failed to tighten.
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