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ICICI Bank made an opportunistic return to the offshore debt market on December 8 with a well-received $200m tap of its $500m 3.5% 2020s, reversing the ill-fated trades of Reliance Communications (RComm) and Lodha Developers last week.

One of the few European agencies with room left in its 2014 funding programme has opted to reopen a sterling line this week.

Moody’s has downgraded the corporate rating of Spie, the French engineering and communications services firm, from B1 to B2 in response to a €2bn refinancing exercise.

The Egyptian General Petroleum Corp is seeking a three year term loan for $1.5bn, the first syndicated loan it has obtained with local and foreign banks since 2010, said a banker on the deal.

Daimler-backed carmaker BAIC Motor capped a busy Monday for the Hong Kong equity capital markets and its first day of bookbuilding with a HK$12.15bn ($1.57bn) IPO that had secured enough demand from cornerstone and anchor investors to cover the book in full. Investors flocked to the listing after seeing that the company was willing to price at a decent range.

China International Capital Corp (Hong Kong) has made its debut in the offshore syndicated market, with a $150m three year term loan that launched into general on December 8.

Dalian Wanda Commercial Properties has built strong momentum for its HK$29.76bn ($3.8bn) Hong Kong IPO, which launched to the market on Monday morning, bringing in 11 cornerstone investors to take up nearly $2bn of the trade. With the deal coming to the market very close to the end of the year, the presence of big-name institutions and sovereign wealth funds at the top helps support the company’s story, say bankers.

Shanghai listed textile dye maker Zhejiang Longsheng Group (Lonsen) has raised a $300m loan from a club of seven banks, said a banker on the deal.

India’s divestment plan has got off to a good start with the government offloading a 5% stake in Steel Authority of India (Sail) on Friday to raise around Rp17.15bn ($277m), in a day-long trade that was well received by both institutional and retail investors.

ICICI Bank has started taking orders for a tap to a bond it issued in September. Even though two debut Indian high yield corporates were forced to pull deals last week, as a regular in the market ICICI is not expected to struggle.

The list of provincial government-linked Chinese entities making their offshore debuts this year added a new name when Zhuhai Da Heng Qing printed a Rmb1.5bn ($244m) dim sum bond on December 4.

Constellium, the Paris-headquartered aluminium producer, launched a €535m-equivalent bond on Friday December 5, to back its plans to buy US drinks can sheet manufacturer Wise.