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Tractel is preparing to join a relatively quiet early September leveraged loan market with the launch of a €235m loan package next week.
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Yunnan Water Investment is set to issue maiden bonds in the offshore debt market alongside onshore notes. The company is considering a range of currencies for its international debut, including US dollars, euros and offshore renminbi (CNH).
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Paying up to get size away in euros is a painful idea for public sector funding officials. But they will have to swallow their objections if they want to bring bulky deals in September.
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The Export-Import Bank of Korea (Kexim) has returned to the Thai baht bond market after a gap of two years, with the hiatus helping it find strong pent-up demand. The issuer printed the largest single tranche trade from a foreign issuer in the currency, while also pricing tighter than its existing bonds.
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Bankers are preparing for a hectic month of issuance after the quiet summer period, as the dollar market gets back into full swing following the Labor Day holiday.
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The euro market was treated to its first 10 year corporate deals in more than a month on Thursday, with Irish food producer Kerry and French utility Suez Environnement opening books.
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French hotel group Accor showed that demand is strong for even weaker investment grade credits on Thursday, drawing a rush of orders for a new eight year benchmark.
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Poland reopened the CEEMEA bond market this week after investors in search of safe havens pushed central Eastern European sovereign spreads tighter. Uncertainty over the timing of a US rate hike has left buyers wary of more typical EM names and left CEE sovereigns among the select few that could avoid paying heightened premiums.
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North American banks took advantage of the opportunities offered by euros this week, as the dollar market remained quiet ahead of Labor Day on Monday. The deals showed the FIG sector regaining its poise after the recent bout of volatility, said bankers.
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Heineken, the Dutch brewing company, issued a €500m bond, tightening pricing as investors jumped on a rare issue by the company.
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The pay gap between men and women working in the front office of investment banks is driven more by bonuses paid than the basic rate of pay, according to Emolument data. But some banks say that they are making strides in their efforts to increase the proportion of women in leadership positions.
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The European Central Bank boosted the prospects of an upcoming supranational deal that SSA bankers expect to be at the elephantine end of the size spectrum.