News content
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Georgia fertiliser firm, Rustavi Azot has postponed its $180m five year non-call three bond, having released initial price guidance for the deal a week ago.
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Chinese company Minsheng Financial Leasing has rolled out a $200m fundraising with two mandated lead arrangers and bookrunners. The deal follows an onshore facility being raised by the same borrower.
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Rabobank enjoyed its visit to the dollar market for tier two debt on Tuesday, paying both a lower spread and new issue premium than it would have in euros.
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BNP Paribas has expanded the responsibilities of some of its senior CEEMEA DCM bankers, helping to fill spaces left open by departures, the most recent being Kirill Golikov.
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A sale of shares in UK insurer, Saga, is about the only thing keeping Europe’s equity capital market bankers from the beach and their thoughts from the next batch of deal launches in September.
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Ezion Holdings has opened books for a five year Singapore dollar bond offering, which is supported by a loan facility from DBS, the first time such a structure has been seen in the city state.
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China concerns have failed to dissuade European corporate borrowers from going about their capital markets business this week, with a number of bonds in the works and acquisition loans progressing.
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Public sector borrowers are keeping deal flow steady despite a range of factors outside Europe making it difficult to manoeuvre.
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HealthCare Global Enterprises has filed a preliminary prospectus to list in India, with the $125m IPO led by Goldman Sachs and a swath of local banks, including Edelweiss, IDFC, IIFL, Kotak Mahindra Capital and Yes Bank.
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Covered bonds have been the weapon of choice for banks in euros so far this week, but senior unsecured and subordinated trades are beginning to pop up.
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Turkish banks have become reliant on short term MTN funding, using access to that market as a reason to refuse to print benchmarks after their spreads have drifted wider this year.
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CEEMEA supply is stumbling, with the week’s tally at one deal priced and one deal pulled. But Latin American offers hope of more fresh paper, with Mexican, Brazilian and Caribbean corporates all readying deals.