Bank of America

Nexi, the Italian payments company, launched its long-awaited flotation on the Italian stock exchange on Monday — and investors are already eager to take a slice of the listing.

Triple B-rated Cassa Depositi e Prestiti (CDP) and Andalucia hit screens on Monday, with SSA bankers convinced the deals are indicative of the smaller types of trades expected in the week ahead.

Embassy Office Parks Real Estate Investment Trust (Reit) has launched a three-day public bookbuilding for its IPO after placing nearly half of the public offer with anchor investors.

The exceptionally strong demand in Europe’s corporate bond market has remained unaffected by the turmoil in the UK’s Parliament, as MPs vote night after night on repeated motions that could determine the country’s future inside or outside Europe. On Thursday, two issuers attracted huge books: Marsh & McLennan Companies, the US insurance and investment services group making its debut in euros, and Incommunities Group, a Leeds-based housing association, in sterling.

World Bank raised $4.5bn of five year bonds on Tuesday with its first dollar benchmark of the year. Municipality Finance (MuniFin) joined it at the tenor a day later, but this is widely expected to be SSA issuers’ last hurrah in the currency for a few weeks.

India’s equity capital market is on edge as Embassy Office Parks Real Estate Investment Trust prepares the country’s first Reit IPO. But while the hotly-anticipated listing has global institutional investors chomping at the bit, the deal may be a one-off treat as the issuer has very few peers.

Hong Kong’s securities regulator has fined Bank of America, Morgan Stanley, Standard Chartered and UBS after investigations into the banks’ sponsorship of a series of IPOs. The Swiss bank has also had its sponsor licence revoked for a year. Jonathan Breen reports.

Bank of America has appointed two co-heads of UK investment banking.

The extraordinary conditions in Europe’s investment grade corporate bond market, in which three issuers in succession had printed multi-tranche bonds this week with no new issue premiums, produced a new bizarre result on Wednesday when Sanofi, one of the market’s tightest-trading issuers, took its turn.

Municipality Finance (Muni Fin) printed a $1bn no-grow short five year bond on Wednesday, joining World Bank at the tenor in a dollar market that bankers said has offered something for everyone this week.

China’s Frontage Holdings Corp, which provides support to pharmaceutical companies, has refiled a draft IPO prospectus with Hong Kong’s stock exchange.

Garanti Bank, Turk Eximbank and Ziraat Bank have begun refinancing one year loans, according to two loans bankers. Pricing is said to be in line with Akbank, which launched a refinancing in early February.