HSBC
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Ülker has signed a $450m loan with 15 banks. It is the second time this year the Turkish biscuit maker has come to the market, with both loans oversubscribed despite political instability in its home country.
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Indonesian toll-road operator Jasa Marga has mandated banks for a much anticipated inaugural offshore rupiah bond sale.
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Chiyu Banking Corp and Shanghai Commercial Bank hit the debt market for their debut international subordinated bonds on Tuesday, but each was met with a different response from investors.
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Investment grade issuers China State Construction International Holdings and Shenzhen International Holdings raised $800m and $300m, respectively, on Tuesday. But their bonds struggled to perform in secondary due to lingering softness in the market.
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Unédic completed its funding programme for 2017 with a seven year benchmark on Tuesday, selling into a market eager for French paper. Bpifrance will look to capitalise on the same appetite after mandating for a Wednesday deal.
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Export Development Canada tapped the short end of the dollar curve on Tuesday, with bankers away from the deal suggesting it was likely aided by a slight bump in three year swap spreads.
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Liberty Living, the UK student accommodation provider, built a strong order book for its debut bond on Tuesday. It raised £500m, split equally between seven and 12 year tranches.
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On Tuesday, American fast food chain operator McDonald’s sold the sixth reverse yankee deal in a month, issuing a long six year tranche and a 12 year tranche to raise €1.2bn.
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Reliance Industries took advantage of the receptive market backdrop this week to seal a $800m bond on Monday, getting away with the tightest 10 year dollar note from an Indian corporate, according to bankers.
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The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.
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GAC-Sofinco Auto Finance completed a Rmb4bn ($603.6m) asset-backed securities transaction on Monday, its first in China since 2014. The originator focused on tight pricing, thereby snubbing investors vying for a bargain, but it still gained the support of accounts familiar with its business.
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Banks running dollar deals for Philippine homebuilder Vista Land & Lifescapes and Indonesian energy company ABM Investama steered the transactions to success on Monday despite a shaky market for high yield credits.