News content
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Mercedes-Benz Auto Finance is set to bring a landmark transaction to China next week with its inaugural Auto ABS, Silver Arrow China 2016-1. The Rmb2.5bn ($385m) is not only notable for being Mercedes’ first ABS outing in China, but is also the first in the country to spot a yield supplement over-collateralization (YSOC) feature.
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Yingda International Leasing has made a successful debut in the dollar syndicated loan market, with more than $400m worth of commitments pouring in for its $200m facility.
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Oil products storage and distribution firm Puma Energy has invited banks to attend a presentation in late March. The company last tapped syndicated loans for a $1.25bn triple trancher in May 2015.
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A $700m outing proved to be another success for ICICI Bank this week, which made a strong return to the debt market amid a lack of supply from high quality Indian credits. The scarcity element of Indian names helped drum up robust demand especially from the US, allowing the lender to price its notes flat to its curve.
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Cemex Holdings Philippines (CHP), an affiliate of Mexican cement giant Cemex, is seeking approval from the Philippine stock market regulator for a potential Ps39.7bn ($851.6m) IPO.
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Chinese regional lender Bank of Tianjin has kicked off bookbuilding for its Hong Kong IPO after covering over half of the up to HK$9.5bn ($1.2bn) with cornerstone investors.
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Malaysian telecommunications giant Axiata Group and Bank of Communications Financial Leasing are looking to tie up their respective dollar offerings on Tuesday with the former executing a sukuk and the latter a conventional bond.
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Allocations for a $200m borrowing by Indian company UPL show six lenders joined the two mandated lead arrangers and bookrunners during general syndication.
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Dubai Holding cancelled an opportunistic buyback of its 2017 bonds after bondholders asked for asked for too high a cash price, according to a banker on the deal.
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State-owned Majan Electricity Company is syndicating an Omani riyal and dollar denominated loan, according to bankers.
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Bulgaria opened books on a dual tranche euro denominated note on Monday, becoming the first CEEMEA name to pounce on the post-European Central Bank (ECB) meeting relief rally.
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Saudi Aramco and China Petrochemical Corp (Sinopec) will complete the $4.7bn loan for their joint venture refinery within the next week, according to bankers.