HSBC

Reliance Jio Infocomm’s $1.5bn dual tranche loan that opened in September has been allocated among 26 lenders, 11 of which joined during general syndication. Thin pricing did not stop Taiwanese, Japanese and Middle Eastern lenders from piling into the deal, as it gave them a chance to form a relationship with India’s biggest private sector company.

Indian company JSW Steel, which made a successful debut in the offshore bond market earlier this month, opened up a $250m fundraising into general syndication with sole bookrunner and mandated lead arranger Axis Bank.

China Development Bank’s financing arm CDB Leasing is set to kick off a series of meetings with investors starting this week in Asia and Europe for a senior unsecured dollar bond issue.

Management roadshows have started this week for the Indian government’s divestment of a 5% stake in Oil and Natural Gas Corp (ONGC), expected to fetch around Rp169.50bn ($2.75bn) based on its market capitalisation.

China National Petroleum Corp is back in the market, launching a deal on the same day and sticking its formula of launching a multi-tranche trade in dollars but unlike previous trades that have used a keepwell agreement, the new bond will have a guarantee from the parent which has led to an upgrade from the ratings agencies.

Axis Bank this week made a successful return to the bond market after more than two years away. While the borrower was not in need of funds it took advantage of tightening spreads to price through its rivals' curves, although US participation in the 144A trade was limited.

US medical equipment manufacturer Thermo Fisher Scientific on Monday issued its first public bond in euros, a €640m transaction maturing in April 2025.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, today began the bookbuilding phase of its planned IPO on the Dubai Financial Market.

Publicis Groupe's $3.5bn loan for its acquisition of Sapient, the marketing and consulting company, is near closing, according to a banker working on the deal. A syndicate of relationship banks has been invited.

Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buyout by Oak Hill Capital Partners.

Yildiz Holdings, the Turkish food manufacturer, has announced details of the debt package that will back its buyout of United Biscuits, ahead of a London bank meeting on Friday.

Bankers working on Axis Bank’s new dollar bond are expecting a strong response from investors as the issuer makes its first appearance in two years. A lack of Indian bank supply combined with positive sentiment towards the country is likely to work in its favour.