Primary Credit Wrap

• Adani Ports Roadshow For 144a/Reg S USD Bonds Starts Tomorrow
  Investor meetings in Asia, Europe, Middle-East, U.S. start tomorrow.
  Issuer: Adani Ports and Special Economic Zone Ltd.
  Expected ratings: Baa3/BBB-/BBB-
  Ecpected issue rating: Baa3/BBB-/BBB-
  JBRs/JLMs: BofAML, Barclays, Citi, Emirates NBD Cap
  JLM: SBI Capital Mkts

• BPCE to Sell SGD Tier 2 10.5NC5.5 Bonds, IPT 4.5% Area
  Issuer: BPCE SA
  Issuer ratings: A2/A/A
  Expected issue ratings: Baa3/BBB/A-
  Coupon: Fixed until call date and then resets at 5Y fixed rate plus initial margin
  Regulatory call: At par plus accrued interest upon a capital event subject to regulatory approval
  Tax call: At par plus accrued interest upon a tax event (tax
  deductibility, withholding tax) subject to regulatory approval
  PONV: Within the risk factors. Reference to the RRD and the banking bill
  JBRs: Barclays, DBS, Natixis, UOB

• Soechi Picks DB for USD Bond, Meetings From Tomorrow
  Investor meetings in Singapore June 11, HK June 12 and London June 15.
  Expected rating: B1/–/B+
  Reg S
  BR: DB
  Co-managers: OCBC, Mandiri Sekuritas

• Haikou Meilan Gets CNH1.4b Orders for CNH600m Bond

Priced at 7.25%, IPT 7.5% area.