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  • Abengoa, the Spanish renewable energy company, suffered yet another unsteady trading session on Thursday over revelations in a leaked KPMG report of a €250m cash deficit.
  • Equiniti, the payment processing services provider, has syndicated £400m of senior debt facilities in relation to its upcoming IPO.
  • Bank of China (BoC) launched a new renminbi bond index simultaneously in London, Beijing and Singapore on October 20. The index is aimed at getting more foreign investors buying onshore bonds and in turn further boost the use of RMB globally, Le Yan, deputy general manager of Shanghai RMB trading unit, financial markets department at Bank of China, told GlobalRMB.
  • Julius Baer has announced plans to issue a Singapore dollar-denominated Basel III additional tier one (AT1). If it goes ahead with the deal, the Swiss firm will be the first foreign bank to issue an AT1 in the city state.
  • The Swiss Federal Council has announced a higher leverage ratio of 5% for Credit Suisse and UBS, as well as outlining how it plans to bring in total loss absorbing capital (TLAC) rules for the two banks.
  • The Republic of Angola, owner of one of the most controversial CEEMEA mandates of recent years, has set roadshow dates for a deal three years in the making.
  • Nigerian banks FCMB and Ecobank are in the market to refinance syndicated loans, although Ecobank comes behind schedule as its loan is about to mature.
  • The Republic of Namibia on Thursday opened books on its first deal in four years, and the first African sovereign bond without a guarantee since July.
  • China Reinsurance priced Hong Kong’s third largest IPO of the year at the top of the range to raise HK$15.58bn ($2.01bn), drawing an outpouring of interest from global investors. The trade has buoyed hopes among ECM bankers, as they seek to put a sullen summer behind them.
  • A $500m financing for State Bank of India has launched into general syndication following a senior phase that saw three lenders come in.
  • Dongfeng Motor Group made a successful offshore debut with a euro-denominated bond this week, which is expected to provide a benchmark for Chinese auto companies eyeing euro notes.
  • The Republic of Korea has picked six banks for a bond that will include the first renminbi-denominated trade from the sovereign. The RMB portion is highly likely to be issued offshore but there’s also a possibility that the country will attempt to enter the recently reopened Panda market.