Bank of America

With emerging markets loan volumes half of what they were by this time last year, syndicate staff are facing job cuts and increased pressure to find ways to compete for what scraps of business there are. The battlegrounds will be pricing and covenants.

Budweiser Brewing Company Apac has kicked off the roadshow for its up to HK$76.4bn ($9.8bn) Hong Kong listing, on track to be the city’s largest IPO in nearly a decade and the world’s biggest flotation so far this year.

A majority of Mexican car parts maker Metalsa’s bondholders agreed to amend parts of the indenture to grant the company more flexibility regarding sales and mergers.

Two companies took advantage of a quiet market on Friday to issue euro bonds. International Airlines Group, owner of British Airways, Iberia, Aer Lingus and Vueling, issued €1bn of bonds that were more than three times covered pre-reconciliation, while Volkswagen Bank printed €500m solely led by Goldman Sachs.

The loan, which marks Absa's return to the syndicated loans market after a decade, demonstrates healthy demand for the South African bank, despite the question marks surrounding credit risk in the country.

The prospect of a blockbuster bond deal from US pharmaceutical group AbbVie was welcomed by dollar bond investors this week, after corporate issuance tumbled to its lowest monthly tally this year.

Volkswagen has closed the books on the long-awaited spin-off of its truck division, Traton, at €27 a share, the bottom of the price range. It was a positive result for the company, according to sources speaking to GlobalCapital.

Investors embraced the duration offered by Adani Ports and Special Economic Zone this week, snapping up its $750m trade and pushing the order book to a hefty peak of $4.5bn.

Medtronic, the Irish-registered US medical devices maker, returned to the euro bond market on Tuesday for a jumbo issue of €5bn, only three months after issuing a €7bn deal - a move that highlights the attractiveness of the euro market. Once again, Medtronic is using the money to buy back dollar bonds.

The board of BCA Marketplace, a UK second hand car trading website, announced on Wednesday that it would recommend a £1.9bn offer from TDR Capital to take the company private. BCA owns the WeBuyAnyCar.com website.

South Korea’s Kookmin Bank has sold its maiden dollar-denominated Basel III compliant additional tier one bond, opting for a sustainability label to entice investors.

SMC Global Power Holdings Corp (SMCGP) has added an opportunistic $300m to its coffers from a reopening of its popular 6.5% perpetual bond, spying a good window to return to the market.