HSBC
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Kangaroos and Kauris — not dollars and euros — could grab the attention of supranational agencies in the coming months, with price rather than prodigious volumes likely to be the issuers’ focus as they flirt with near-completed funding targets. Jonathan Breen and Nathan Collins report.
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Landesbank Hessen-Thüringen (Helaba) tapped the three year leg of its dual tranche issue from May on Thursday morning, mirroring the syndication strategy it used to tap the deal’s seven year leg in July — aggressive pricing and doubling the size of the issue.
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The Republic of Indonesia has announced the dates of investor meetings for a dollar sukuk, having mandated banks in May.
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Yingde Gases Investment has opened guidance on the first high yield dollar bond from Asia ex-Japan since the markets quietened down at the start of August. Appetite for high yield credit still appears strong and the borrower’s existing bonds rallied after books on the new deal opened on Thursday morning.
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Both Ascendas India Trust and Nam Cheong priced five year Singapore dollar bonds on August 19. The Singapore dollar market has been the most active in Asia in recent weeks as the dollar and dim sum markets take a summer breather.
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India’s Yes Bank has picked a consortium of 11 lenders to finance its $275m three year loan. Most of the banks that participated in its last fundraising have returned for the new one.
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Malaysia Airport Holdings (MAHB) is considering bringing out what could be the first ever ringgit denominated perpetual sukuk to carry a credit rating. The proposed issue will be from a MR2.5bn ($792m) sukuk programme the borrower established in August 2013.
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Both Ascendas India Trust and Nam Cheong opened five year Singapore dollar bonds on August 19. While Asia’s bond markets have been largely quiet over the August summer lull, there have been a number of Singapore dollar issuances in the last two weeks.
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French investment firm Wendel will sell another subsidiary of Materis, the French admixture producer for concrete and cement, in a deal valued at €290m.
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Singapore’s second largest bank, OCBC, is seeking to raise S$3.37bn ($2.7bn) from a one for eight rights issue to strengthen its balance sheet following its $5bn acquisition of Hong Kong’s Wing Hang Bank in July.
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The Republic of Indonesia has announced the dates of investor meetings for a dollar sukuk after mandating banks in May.