News content

New month, new direction. After the highly volatile, but largely downward facing, third quarter of the year, European stocks are beginning to experience more favourable conditions.

The Japan Post group has announced price ranges for the long-awaited IPOs of its three units, set to collectively raise ¥1.44tr ($12.03bn) to become the biggest offering this century in the country.

Lloyds and Rabobank have been successful with short dated floaters this week, and while investors remain cautious, market tone is gradually improving.

Elevated new issue premiums have become a persistent theme of the FIG market in recent months and bankers say they unlikely to shrink any time soon.

The budding Chinese securitization market has taken another step forward with the National Association of Financial Market Institutional Investors (Nafmii) rolling out the first disclosure framework for consumer loan ABS.

Standard Chartered’s latest Renminbi Globalisation Index (RGI) showed a 9.4% month on month boost to 2,312 in August from a revised 2,113 in July. The rise was mainly due a surge in CNH foreign exchange turnover caused by the increased currency volatility since the RMB fixing reform.

The Black Sea Trade and Development Bank has sold the first bond from its EMTN programme after responding to demand for its name in Romanian leu.

Tata Chemicals has picked banks for a new £200m ($303.5m) refinancing, hitting the market after a hiatus of nearly two years.

CEEMEA is back with a vengeance. The Republics of Ghana and Poland and corporate borrower Turkcell are all in the market on Wednesday, a day after Norilsk Nickel priced the first corporate dollar benchmark from Russia in almost two years.

Poultry feed producer Charoen Pokphand (CP) Indonesia is tapping the syndicated loan market for a $355m dual-currency fundraising, split between rupiah and dollars.

ICBCIL Finance, a wholly-owned subsidiary of ICBC, has picked banks to work on its return to the international bond market, in what would only be its second dollar deal.

A $550m three tranche borrowing for Bank Rakyat Indonesia (BRI) has launched into general syndication, but not all the mandated lead arrangers and bookrunners are looking to sell down.