HSBC
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Tata Motors priced a $300m seven year bullet through its subsidiary TML Holdings on Wednesday. The borrowing entity's ownership of Jaguar Land Rover Automotive was seen as bolstering investor support for the credit, enabling the issuer to come tight with what was its first dollar deal.
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Philippine giant San Miguel Group’s latest bond offering came in the form of a perpetual non-call 5.5 this week from SMC Global Power Holdings. The deal was priced on Tuesday just wide of sister company Petron’s similarly structured perp.
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Emirates NBD on Wednesday became the third Middle Eastern issuer this year to take to the Kangaroo market, selling a five year bond. Despite a weaker rating than other Emirati banks seen in market, the deal found favour with Asian accounts as a result of an attractive spread.
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SingTel signed loans worth a chunky S$3.5bn ($2.8bn) via two separate facilities this week, with a large number of banks piling in.
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Colombian pipeline company Ocensa plans to price its debut international bond on Wednesday after tightening initial price thoughts to official guidance that would equate to a premium of 25bp over its parent, Ecopetrol, splitting investor opinion on the value of the new deal.
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Eandis, the Belgian electricity and gas distribution company, varied its usual pattern of 10 year bond issuance today with a 15 year deal that attracted strong demand.
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Majid Al Futtaim and Abu Dhabi National Energy Company (Taqa) have continued the theme of United Arab Emirates borrowers issuing longer term paper, with both firms looking to price 10 year bonds on Tuesday.
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CLP Power received a strong following from institutional investors for a hybrid perpetual non call 5.5 year bond that priced on Tuesday night. The trade was intended to strengthen the issuer’s balance sheet following the announcement of big acquisitions at the end of last year.
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Chinese real estate developer Yanlord Land Group priced its debut Singapore dollar bond on Tuesday. The S$5bn ($3.9bn) orderbook was mostly driven by demand from private banks who were targeted to ensure the S$400m target was reached.
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Dubai-based lender Emirates NBD is set to sell its debut Kangaroo bond on Wednesday, following two other Emirati issuers which sold Kangaroo deals in March.
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AS Watson, the retail and manufacturing arm of Hong Kong conglomerate Hutchison Whampoa, is speaking with banks for a HK$15bn loan ($1.93bn) and is counting on its relationship banks to take the deal forward. But bankers are already speculating that the transaction will not be an easy one, owing to the slim margin of 85bp over dollar Libor.
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Korea Resources Corporation (KoRes) opened books for a five year transaction on Tuesday morning as the issuer looks to repay a project financing facility for a mining project in Mexico.