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  • Investors piled into the first offshore renminbi bond from Lenovo Group, keen to get their hands on some rare corporate supply. The strong response allowed the borrower to upsize the five year offering to Rmb4bn ($645m), equalling the record for the largest corporate dim sum bond.
  • Santander UK will look to build out its holdco curve in both tier two and senior unsecured as early as the autumn, after impressing with its debut additional tier one bond this week.
  • Allocations for a loan by KKR-owned MMI International have reignited a debate between investment banks and commercial banks about final holdings. Investment bankers argue that arrangers should be concerned about the quality of the credit, rather than what each bank in the top group holds, writes Shruti Chaturvedi.
  • India's Rural Electrification Corp (REC) has wrapped up its $400m five year fundraising, with nine banks coming in during general syndication. Incoming lenders ended up with roughly 35% of their original commitments as the leads had limited sell-down targets.
  • Bharti Airtel showed that scoring a huge order book is not necessary for a deal to be deemed a success. Its $1bn trade attracted just double that in bids, but Bharti still managed to achieve its tightest ever spread, with the bonds also trading well in the aftermarket.
  • Korea Development Bank shed its entire stake in Kumho Petrochemical through a W323.9bn ($293m) block on June 3, which was priced at the lower end of guidance as investors showed a high degree of sensitivity.
  • Alibaba Pictures Group, the Hong Kong-listed unit of Alibaba Group, has raised HK$12.18bn ($1.57bn) from a private placement of shares, joining the flurry of companies raising fresh equity as markets remain on a high.
  • Hindustan Petroleum Corp’s (HPCL) $400m 39 month facility has been allocated, with seven lenders joining in general syndication. When the loan was launched, market participants saw it as a litmus test for retail demand for three year state owned Indian assets. But while the deal got over the finish line, bankers on the loan said the response was tepid.
  • Hong Kong-listed Kingsoft Corp fetched HK$2.74bn ($353.43m) from an accelerated share sale on the evening of June 3, with the trade enjoying a brisk response courtesy of its Tencent and Xiaomi parentage.
  • The Taiwan Stock Exchange Corp (TWSE) took steps this week to repair years of anaemic trading on its stock market. It faces an uphill battle, however, as Taiwanese investors are jumping on the A-share bandwagon, draining liquidity from the country's volume-poor market.
  • China Merchants Land has scooped $290m through a convertible bond priced in its favour, as the presence of a standby letter of credit gave comfort to investors. But the extent to which the CBs traded up following the deal suggested that the issuer could have got away with more aggressive terms.
  • China Three Gorges Corp (CTG) ventured into the international bond market with an approach never seen before, as it became the first name in Asia ex-Japan to debut in both dollars and euros.