Bank of America

Prime US real estate investment trust is on the road for a potential S$834.5m ($613.8m) listing on the Singapore Exchange, with over half of the units already taken up by cornerstone investors.

The US high grade corporate bond market was becalmed this week, as no issuers brought new deals before Thursday's July 4 holiday. However, the market is in good shape for issuers, and bankers and investors are hoping for two more big M&A fundings, in the telecoms and IT sectors.

Budweiser Brewing Company Apac cracked open its up to HK$76.4bn ($9.8bn) Hong Kong IPO this week, set to be the city’s largest listing in nearly a decade and the world’s biggest so far this year, with early investor orders coming in thick and fast. Jonathan Breen reports.

Bank of America has appointed former Asia capital markets head Peter Guenthardt as co-head of Asia Pacific investment banking, according to an internal memo seen by GlobalCapital Asia.

KfW and Bpifrance hit screens with taps of existing debt on Tuesday, with levels so tight that the sovereign, supranational and agency market’s best rated names are finding it trickier to get traction from investors.

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.