News content
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Air India has made a quick return to the offshore loan market, this time for a borrowing of $300m. Its request for proposals comes soon after a $315m bridge it is syndicating with two banks.
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The owner of Jose Cuervo tequila, JB y Compañía, is looking to raise what would be the family-owned company’s only debt through the sale of a $500m 10 year bullet bond.
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The release of its audited financial results allowed Brazilian state oil company Petrobras to avoid a further downgrade from Moody’s. But as yet the agency has given no indication of the upgrade some are expecting.
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China New Town Development has started its first foray into the offshore renminbi bond (CNH) market on April 28, opening books to a three year Reg S offering.
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Reliance Communications (RComm) finally made its debut in the dollar bond market this week following an aborted deal last year. This time round the borrower was taking no chances with the $300m deal helped by an anchor order which covered two thirds of the trade.
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The Taipei Exchange (TPEx), formerly known as the GreTai Securities Market, is stepping up its efforts to promote itself internationally and to bring the Taiwan RMB-denominated bond market to the attention of global issuers and investors.
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Fund managers are increasingly keen on offering their clients exposure to renminbi assets. But with the dim sum market still dogged by illiquidity and small issue sizes, creative thinking is needed.
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As corporate mergers and acquisitions become increasingly subject to lengthy regulatory reviews, investors have been able to capitalise on greater versatility in options strategies despite higher premiums.
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The overall credit default swap and interest rate derivative trade counts reported to swap data repositories last week increased 24% and 46%, respectively, compared to the same week last year, according to data from the International Swaps and Derivatives Association.
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Structured products are back, but not as you know them. Volumes are edging back to pre-crisis levels, but those familiar with the market then will not find the same types of structure on offer today.
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Permanent TSB, the state-owned Irish bank carved out of the Irish Life & Permanent, nationalised in 2011, has begun a new life as a fully listed company, after a highly successful €498m share sale was priced on Monday.
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The IPO of Cellnex, the telecoms towers unit of Spanish infrastructure group Abertis, was covered on the full deal size, throughout the price range, within a few hours of the start of the bookbuild on April 24.