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Explosives group Dyno Nobel began marketing its IPO on Wednesday, with Macquarie Bank and Credit Suisse leading the A$902m to A$1.03bn ($671m-$766m) offer on the Australian Stock Exchange. The indicative price is A$1.89 to A$2.27 a share. The offer comprises 464.6m shares, a 57% interest in the company, while incumbent shareholders and management will retain the balance.

SembCorp Industries, the Singaporean engineering and infrastructure group, has confirmed that it is in discussions with commercial banks over a project finance loan to fund its acquisition of a stake in the Fujairah water and power project in the United Arab Emirates. SembCorp Utilities, a fully-owned subsidiary, was named as preferred bidder for a 40% stake in the project at the end of January, after tendering a bid of $1.34bn at the end of 2005. Abu Dhabi Water and Electricity Authority is privatising the independent water and power project and will take the remaining 60% stake.

China National Chemical Corp has mandated Standard Chartered to arrange a A$200m term loan to finance the acquisition of Qenos Holdings, the Australian plastics company.

Johnson Electric Holdings has mandated Citigroup and HSBC to arrange a $550m five year loan, which was launched into sub-underwriting last Friday (February 24). The deal offers a margin of 28bp over Libor. Underwriting commitments of $80m and above earn the title of coordinating arranger and fees of 32.5bp, translating to an all-in of 34.5bp.

The $75m equivalent five year deal for Alok Industries, the textile group, was launched into general syndication on Wednesday.

Mandated lead arrangers ABN Amro, Bank of Tokyo-Mitsubishi, Citigroup and Standard Chartered have launched syndication of the $300m five year loan for Bumiputra-Commerce Bank.

Standard Chartered, as sole mandated lead arranger, has closed syndication of the $50m three year loan for Samsung Asia. The facility will not be increased and final allocations will be decided today (Friday). Bank of Tokyo-Mitsubishi UFJ, Export-Import Bank of Korea, Hana Bank and Korea Exchange Bank each committed $10m, while ICBC (Asia), Sanpaolo IMI and First Commercial Bank have also joined, leaving the facility heavily oversubscribed.

The NT$1.5bn five year debut loan for Allied Integrated Patterning Corp has attracted more participants in syndication. Bank of Taiwan is sole mandated arranger and bookrunner.

The ¥15bn three year facility for Krungthai Card has attracted three commitments — Bank of China, Industrial & Commercial Bank of China and one Taiwanese Bank — in syndication. Sole mandated arranger is Barclays Capital. The deal is denominated in yen and pays a margin of 57.5bp over yen Libor. Arrangers joining with ¥1.15bn and above earn fees of 22.5bp, while co-arrangers will take 18bp for ¥900m to ¥1.149bn. Banks committing ¥600m to ¥899m will earn 13.5bp and the title of senior manager.

This is a good time of year to be in India. Bankers are flocking to the country, and not just for the start of the test series against cricket's founding nation.

US law firm Paul, Hastings, Janofsky & Walker has hired three capital markets lawyers for its Hong Kong office.

Citigroup was Asia's pre-eminent debt house last year, topping Dealogic's league tables for international fixed income and syndicated loans. In the first of a regular series of interview-based features to appear in EuroWeekAsia, Adam Harper discovers that Jeremy Amias, Citigroup's head of fixed income for Asia Pacific, believes the bank can still do better.