HSBC
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French agency Société de Financement Local (SFiL) raised $1bn with its first ever dollar bond on Wednesday, while the German State of North Rhein-Westphalia pushed out its curve to 2048.
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India’s Bank of Baroda met investors this week on a non-deal roadshow in Europe and Asia.
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Louis Dreyfus Co Asia has enlisted four mandated lead arrangers and bookrunners to distribute a $400m three year loan.
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The MR5.9bn ($1.4bn) IPO of Lotte Chemical Titan Holding, the Malaysian arm of South Korean conglomerate Lotte Group, is oversubscribed as the roadshow heads to London on Wednesday evening, according to a banker on the trade.
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Chinese issuers are dominating Wednesday’s debt market in Asia ex-Japan, with two issuers launching dollar deals and two investment grade corporates announcing roadshows for transactions.
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Two Indonesian financial institutions, Bank Negara Indonesia (BNI) and Adira Dinamika Multi Finance, are scheduled to hit the loan market in July.
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Industrial and Commercial Bank of China’s Hong Kong branch made a quick return to the floating rate bond market, raising $700m from a dual-tranche outing on Monday. The lender was focusing more on price over size, with its five year proving to be investors’ sweet spot, according to bankers.
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South Korea’s Posco this week offloaded its entire stake in shipbuilder Hyundai Heavy Industries, raising W190.9bn ($167.9m) on the back of a booming stock price.
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Road King Infrastructure grabbed $300m on Monday from the sale of its second fixed for life perpetual bond this year, taking advantage of investors’ eagerness for yield.
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Amid light-hearted comments from observers about its patchy debt record, Argentina sent a very serious message to markets on Monday with the first ever 100 year bond issuance from a single-B rated sovereign.
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Compass Group, the UK food service group, offered investors a choice of main courses on Monday, combining a €750m seven year bond with a £300m 12 year. Demand was plentiful for both and the new issue premia were minimal.
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Cyprus, entering an otherwise quiet market, has picked banks for a seven year euro benchmark to be sold on Tuesday.