News content
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Israel has embarked on a US roadshow for a dollar bond, using the same three lead managers as it has done for its last two Eurobonds.
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Nationwide Building Society has continued its funding surge into 2016, offering sterling investors a rare chance to pick up long dated senior unsecured paper from a UK lender.
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In a starved Russian loan market peppered with asset backed loans, three Chinese banks have lent a highly prized unsecured credit facility of Rmb4.8bn ($730m) to Russian mining company Norilsk Nickel. It is the latest sign of the increasing importance of Chinese money in a Russian economy increasingly squeezed by international sanctions and falling oil prices. Elly Whittaker reports.
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HNA Group International, a Hong Kong-based investment holding subsidiary of airline HNA Group, is preparing its debut Panda bond. The trade will be sold into China’s exchange bond market, which has recently started giving approvals for Panda bonds from red chip companies.
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Hungary will not issue a dim sum bond until a period of sustained stability is seen in the Chinese markets, said bankers on Wednesday.
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Poland and Chile dived into the market this week, printing the first CEEMEA and Latin America bonds of the year.
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China Nonferrous Metal Mining and Vista Land & Lifescapes are meeting investors ahead of their respective dollar offerings, while Hangzhou Hikvision Digital Technology is set to gauge interest in Europe for a euro-denominated deal.
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Financial institutions have taken an early plunge into additional tier one bonds this week, as European and US investors show willing to take on risk and put cash to work.
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The drawing power of one of Asia’s top credits was on show this week with Ping An Life Insurance Co of China debuting in the dollar bond market with a $1.2bn deal that was multiple times covered across two tranches.
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Hotel Lotte could raise as much as $5bn from its IPO, expected as early as March, and land the title of the largest ever listing in South Korea in the process, according to market sources.
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Bond specialists in the US and Europe are braced for what could be the biggest ever corporate issue, as Anheuser-Busch InBev finances its takeover of SABMiller.
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China Energy Reserve and Chemicals Group offered bond investors a generous premium to make up for its unrated status and for executing a deal with a less investor-friendly structure. Chinese banks, including those working on the trade, submitted anchor orders and contributed to the transaction's success.