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Hanjin Transportation is back in the market to offload its W220.1bn ($192m) stake in Korean Air Lines just a week after its first attempt collapsed, offering a juicier discount this time around in the hopes of wooing investors and combating volatility.
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Tianjin Binhai New Area Construction & Investment Group Co and Nonghyup Bank braved volatile market conditions to open books for their respective US dollar bonds on Wednesday, as the world waits for signs of a concrete debt restructuring deal from Greece.
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Turk Eximbank closed a €500m loan on Tuesday with its novel two-year tranche proving popular with banks.
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Ping An Real Estate issued the first offshore renminbi (CNH) bond in three weeks on July 14, making it the first borrower to test appetite since the Greek referendum. Although the issuer had to offer a decent premium to get the deal done, the level was flat to its onshore funding costs.
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Star Petroleum Refining, the Thai energy company part-owned by state oil giant PTT and Chevron Corp, has filed a long-awaited application to list in Thailand, with the trade being led by four domestic banks.
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Banks have turned to covered bonds for an open funding route this week, with FIG borrowers reluctant to be the first to test the senior unsecured and capital markets.
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Kazakhstan and Naspers jumped through a small window in Tuesday to reopen the CEEMEA market, with deals chunky enough to make this week the second biggest for the region so far this year.
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The first dollar bond to emerge from China following the Greek debt agreement proved to be a hit with Shanghai Construction attracting an eight times covered book for a $400m offering.
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The People’s Bank of China (PBoC) is to allow offshore commercial financial institutions to issue RMB-denominated bonds onshore in a bid to expand the Panda bond market, two sources have told GlobalCapital Asia's sister publication GlobalRMB. It may even permit proceeds to be moved offshore.
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India’s Dewan Housing Finance has sketched out tentative terms for a $110m facility and enlisted one lender to co-ordinate the fundraising. Its loan is expected to be followed by more financings from industry peers.
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Hindustan Petroleum Corp (HPCL) has mandated a group of three banks for its latest outing in the offshore syndicated loan market. The request for proposals for the new $200m five year bullet was sent out less than a month after the company wrapped up a separate $400m loan.
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Asia’s primary debt capital market was crowded on July 14 as opportunistic issuers rushed out to take advantage of a favourable, but perhaps short, issuance window. Korea Gas Corp (KoGas) was among the throng.