News content
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The Export-Import Bank of Korea (Kexim) is testing investors’ appetite for a dollar bond, its first since receiving a credit boost from Standard & Poor’s in September.
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A steady start to the week in the European corporate bond primary market had clicked into gear by Thursday, as corporate issuers emerged at pace from earnings blackouts.
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Showroomprive and Skandiabanken have successfully priced their initial public offerings, even as two other firms in Europe suffered setbacks to their original plans.
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Lebanon has priced a triple-tranche Eurobond, which includes its longest ever dollar deal.
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Royal Bank of Scotland’s sale of Citizens, its US retail bank, helped to boost headline profits in the third quarter, but the UK lender posted high restructuring and litigation costs that are not expected to fall any time soon.
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Indonesia’s Summarecon Agung has pulled a planned $200m-$250m IPO of Summarecon Investment Property (SIP) at the eleventh hour to pursue a real estate investment trust (Reit) instead.
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CDB Leasing has approached lenders for a $300m fundraising, marking its second outing in the loan market this year.
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Chinese regulators jointly released a new set of guidelines to further push financial reform in the Shanghai Free Trade Zone (FTZ) on October 30. The changes aim to accelerate the opening up of capital account and make Shanghai a genuine international financial centre.
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China General Nuclear Power Corp (CGNPC) has wrapped up its second dollar deal of the year, using a keepwell agreement this time around rather than a direct guarantee. Despite the less investor-friendly structure, the company saw a huge following and managed to price the notes with little new issue premium.
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Beijing Environment Sanitation Engineering Group (BESG) wasted little time with its inaugural international bond, wrapping up a euro-denominated deal before European investors were even able to get a look at it.
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Dali Foods Group Co is expected to open books in the week of November 2 for its $1.5bn IPO in Hong Kong, after investors gave the thumbs up to the Chinese snack food maker during pre-marketing.
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In this round-up, Macau’s RMB deposits, SDR review decision drawing close, BRICS NDB and AIIB ready operations, BoC reports on RMB business in first three quarters, and CFETS plans a joint venture with Deutsche Boerse.