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AkzoNobel, the Dutch paints, coatings and chemicals company, issued a €500m 10 year bond last Friday that achieved a deeply negative new issue premium, as investors piled in ahead of the European Central Bank’s expected corporate bond buying programme.
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The recent turnaround in market sentiment could feed into a busy start for FIG borrowers in the second quarter, but Danske Bank was the only financial institution to take advantage in euros this week, soaking up demand for its tightly priced five year senior deal.
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Russian container terminal operator Global Ports Investments has mandated six banks for its debut Eurobond and is embarking on a roadshow for the deal. The last time a debut issuer from the country tapped the bond markets was in 2013.
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The Government of Mongolia finally dipped its toes into the international bond market, raising $500m from a 144A five year trade this week. The sovereign managed to assuage investors concerned about the twin headwinds of volatile commodities prices and slowdown in China, but had to pay up in the process. Narae Kim reports.
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Isbank reopened the senior market for Turkish financials in style on Wednesday with an oversubscribed deal that was priced tight to the issuer’s existing curve.
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Bank of the Philippine Islands (BPI) is poised to make its debut in the international syndicated loan market with a $250m fundraising.
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Blount International, the US farm and forestry equipment manufacturer, joined in this week’s trend of widening prices in a leveraged loans market where demand is hard to find.
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Russian software firm, Kaspersky Lab, is refinancing a credit facility with international banks and reducing the margin despite many Russian borrowers paying more for their loans.
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Isbank emerged on Wednesday with the first senior deal from a Turkish financial borrower since last April.
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A $300m dual-tranche loan for a subsidiary of palm oil producer Golden-Agri Resources has wrapped up with just two new banks coming in.
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The Government of Mongolia raised $500m from the international bond market on Tuesday, opting to pay up to compensate investors for its vulnerability to external shocks.
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German chemicals company BASF printed a €300m tap of existing notes on Tuesday, clinching a low single digit concession for the deal.