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In this round-up, new RMB mini metals contracts coming on HKEx, Singapore Exchange and EBS to launch CNH block futures, Turkey renewed its RMB swap line, and Morgan Stanley said one of its funds will start trading via the Shanghai-Hong Kong Stock Connect link.
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The Republic of Indonesia has picked 10 banks for a 2016 bond panel and mandated four of them to work on a dollar offering that could raise up to $4bn.
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Mexican broadcaster Grupo Televisa sold $1.2bn of 10 and 30 year bonds on Thursday to reignite a Latin American bond market that some had suggested was heading for early hibernation.
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Tohoku Electric Power, Japan’s fourth largest electricity company, raised ¥120bn ($972m) to build new power stations on Tuesday, with a pair of negative yield convertible bonds, sold outside Japan.
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Vodafone became the latest blue chip company to exploit the attractive arbitrage offered by the convertible bond market at the moment, by raising £600m on Thursday with a highly sought-after deal that involves no risk of issuing new shares.
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Banco Nacional de Desenvolvimento Econômico e Social (BNDES), the Brazilian government-owned development bank, on Monday became the latest financial institution from the country to look to take advantage of depressed bond prices by repurchasing debt below par.
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With the most business-friendly candidate boasting a lead of at least eight points in opinion polls ahead of the second round of Argentina’s presidential elections this Sunday, bankers are hoping Argentina can once again play an important role in Latin American bond markets.
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The leveraged finance market suffered an unpleasant shock this week, when $5.6bn of loans and bonds for the Carlyle Group’s acquisition of Veritas Software had to be pulled. Bankers were left blaming market sentiment, an aggressive structure — and each other, write Max Bower and Victor Jimenez.
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European Investment Bank has launched a rare, privately placed index-linked Climate Awareness Bond, while World Bank is offering retail investors the chance to buy similarly structured green paper.
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The sterling market has fizzed for investment grade corporates this week, as both British American Tobacco (BAT) and Mondelez nabbed long dated tenor in the currency.
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Market participants expressed relief on Thursday at the likely success of at least three of four capital raises being executed by Greece’s largest banks this week, after days of arduous bookbuilding. Olivier Holmey reports.
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Investors gave a firm thumbs up to a capital hole at Novo Banco identified by the European Central Bank this week, as the debt of the Banco Espírito Santo ‘good bank’ joined a wider rally in Portuguese bonds.