News content
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China’s Minsheng Financial Leasing is back in the loan market for a $175m-$200m facility, picking Credit Suisse as the sole bookrunner and mandated lead arranger.
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BNP Paribas’s debut additional tier one (AT1) deal caused an argument between rival FIG syndicates on Wednesday. Some hailed the maturity of the asset class in a tough market while others questioned what they saw as aggressive pricing.
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National Bank of Abu Dhabi set price thoughts on its first ever international subordinated bond at 5.375% on Wednesday morning. Debt bankers away from the trade doubted the issuer could make a sub-5% finish.
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Bank of America Merrill Lynch has hired two new DCM bankers in origination and liability management
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French bank Group BPCE has priced a S$150m ($111m) tier two offering. The deal marks BPCE’s debut in the Singapore dollar market.
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The Gabonese Republic’s recent 10 year note was trading well in the secondary market on Wednesday, after drawing a $2.75bn order book for a $500m print.
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Mashreq Bank placed its first ever note in yen on Wednesday, marking a growing demand for Middle Eastern paper in the currency.
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South Korea’s Mirae Asset Life Insurance Co has finally taken its IPO on the road, opening books on June 10 to raise up to W454bn ($408m) from the equity capital market, putting several past failed attempts behind it.
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LatAm bond bankers were left wondering whether Mexican utility CFE was wise to push ahead with a 30 year bond issue on the same day the long end of the US Treasury curve sold off heavily, as the company was forced into the unusual move of pricing wide of initial pricing thoughts.
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Haikou Meilan International Airport took to the international bond market for the first time on June 9, raising Rmb600m ($98.5m) in the process.
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It’s official — the European corporate bond market is going through a bad patch. The market has not felt quite itself since March, but issuance held up pretty well in April and May, with about €27bn in each. Since June began, there have been just five deals, totalling €2.85bn.
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If anyone thought Europe’s IPO market was overcrowded, this week brought no relief.