HSBC
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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.
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While China's government and financial authorities busy themselves with promoting the internationalisation of the renminbi, the country's corporates sometimes lag behind foreign firms looking for a trade advantage. Malaysia is one such market, say bankers.
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Brazilian meatpacker Minerva provided bond investors with their only chance for new LatAm paper this week, and the book size and aftermarket performance showed that new issue conditions have not at all cooled for the August holidays.
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Bankers and investors are casting an increasingly critical eye on aggressive deals scheduled for launch in September, as relentless fund outflows indicate investors might not commit as willingly as they did in the first half of 2014.
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Luxembourg, which is gearing up to sell the first euro denominated sovereign sukuk, is set to meet investors in Asia, Europe and the Middle East at the end of September. It has hired a pair of banks to lead the project.
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China Construction Bank Asia (CCB Asia) pulled off a smart move this week, getting ahead of an expected September rush of deals to price its debut Basel III tier two offering on Wednesday. With large volumes of bank capital expected from Chinese banks, getting in early allowed CCB Asia to come inside a rival's curve, writes Virginia Furness.
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Pakistan has mandated four banks to arrange its second ever dollar denominated sukuk, despite its conventional bonds having lost 3pts-4pts in cash since the start of June.
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Chinese department store operator Springland International Holdings has wrapped up its fundraising at $320m, with 15 banks joining during syndication. The three year facility, which was launched at $250m, was oversubscribed.
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Delhi International Airport Limited (Dial) is preparing to join the procession of Indian high yield names making their debut in the international bond market, after picking for banks for a dollar deal.