News content
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Videocon Hydrocarbon, which engages in oil and gas exploration, is tapping the loan market for a $75m three year facility and is counting on a standby letter of credit to attract liquidity.
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China's Ministry of Finance (MoF) is set to auction the second batch of CNH government bonds this year in Hong Kong on November 23. Although it seems the renminbi has secured its inclusion in the IMF’s Special Drawing Rights (SDR) basket, market participants doubt this will give an immediate boost to the CNH market.
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Citic Envirotech has set up a subordinated securities issuance programme in multiple currencies, while Sun Hung Kai Properties (SHKP) is eyeing an offshore bond return.
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Mahanagar Gas has filed a draft red herring prospectus with the Securities and Exchange Board of India for an IPO, with the deal expected to raise some Rp10bn ($152m) in the first quarter of next year.
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Sri Lankan conglomerate John Keells has finally signed its $395m resort financing that spent nearly a year in syndication. The facility was delayed after the country’s new government changed rules on casino licences, which meant banks had to rethink the loan to take into account the absence of casino revenues.
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The RMB passed through another goalpost on its path to inclusion in the International Monetary Fund’s Special Drawing Rights (SDR) facility on Friday, with the IMF staff saying that the currency meets all the criteria to join the basket. The fund's executive board will make the final call on the issue when it meets on November 30.
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Shares in Softcat, the UK IT services and solutions provider, have risen 23% since the company's £153.4m IPO, as an initial 20% pop solidified into steady gains.
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China Huarong Asset Management navigated a crowded Asian dollar bond market with a chunky $1.8bn deal on November 12. The trade was a replica of a highly successful transaction it executed at the start of the year.
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Chinese technology firm Tencent Holdings has opened its $1.25bn loan into limited syndication with tight pricing on offer.
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China State Construction Engineering Corp (CSCEC) has made its offshore debut with a Reg S five year dollar issue. The firm braved a market that was crowded with four other dollar deals and still managed to come inside its fair value.
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Malaysian telecommunications giant Axiata Group ended its five year hiatus from the international bond market on November 14 with a $500m wakala sukuk that was well received by investors.
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Korea Housing Finance Corp (KHFC) has returned to the offshore debt market with its first covered bond in more than two years, with strong demand allowing the issuer to achieve its pricing and diversification aims.