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  • FIG
    Following several months of apprehension in the run-up to Sunday's first round vote in the French presidential election, French banks can now look forward to better issuance conditions and lower funding costs as they build towards their regulatory capital requirements.
  • National Highways Authority of India is preparing investors for a new Masala transaction, the issuer’s first in the offshore rupee market.
  • The leveraged finance market in Europe has shared in the cheerful sentiment across markets on Monday morning as the first round of voting in the French presidential election suggested centrist Emmanuel Macron was the favourite to win the run-off in two weeks’ time.
  • Fears of a far right victory in the French presidential election receded on Sunday night after Emmanuel Macron won the largest share of the vote to make it into the second round alongside Marine Le Pen, the National Front leader.
  • Two commodities companies have rolled out separate syndications into the loan market, with Vitol Asia approaching lenders for $1bn and Gunvor Singapore looking for $800m.
  • The Indian government has hired five firms to run the IPO of state-owned insurer New India Assurance Co, according to a banker close to the situation.
  • Fosun International scored an additional $600m from a tap of its $800m 5.25% 2022s last Friday, making it the largest Chinese high yield non-property deal in almost three years.
  • As the perceived European political risk reduced following the results of the first round of French elections, Asian debt markets opened on Monday to a deal from India's HPCL-Mittal Energy (HMEL).
  • Syndication of a HK$7.991bn ($1.027bn) loan for a subsidiary of Hong Kong conglomerate Goldin Financial Holdings is set to wrap up soon, with the money to be used to develop a residential complex in the city’s Kowloon area.
  • With the world’s largest asset manager saying it backs the inclusion of A-shares in MSCI indices, the result now looks inevitable. However, the result is likely to be high on symbolism and little else and highlights the challenge for firms as they balance the demand for China exposure with the need to keep their integrity intact.
  • Indonesia-listed Sarana Menara Nusantara is set for a liquidity event after a group of shareholders put a large chunk of stock for sale to raise Rph5.6tr ($422m).
  • Telecom infrastructure provider Tower Bersama Infrastructure has tied up a $200m loan with its relationship banks on a club basis, with several participants booking the borrowing through their Indonesian subsidiaries.