Bank of America

The International Development Association, part of the World Bank Group, is on screens with its debut bond issue. The trade is offering a handful of basis points over seasoned World Bank Group issuer the International Bank for Reconstruction and Development (known as World Bank), according to bankers away from the mandate.

French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand.

The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.

Tucker Highfield, Credit Suisse’s head of equity syndicate for Asia ex-Japan, has left the firm to join Bank of America Merrill Lynch, according to sources.

A decent start to the week gave way to caution as escalating geopolitical concerns slammed the brakes on US high-grade dollar supply.

Adecco, the Swiss temporary staffing company, has become the latest blue chip to use a sustainability-linked loan structure for its main corporate revolving credit facility.

European high yield bond issuers roadshowed for seven lower rated new offerings this week, leaving behind the quiet of the post-Easter recess. What followed was a vigorous tug of war over pricing and terms in which bankers and investors claimed different victories.

Korea Resources Corp (KoRes) navigated a number of hurdles to complete its $500m bond on Tuesday to imminently refinance maturing notes. The company found plenty of support for its annual issuance, but only after it offered a juicy premium to investors.

China SCE Property Holdings and Powerlong Real Estate Holdings paid up to complete their dollar bonds on Tuesday, but the new issue premiums were widely expected by bankers.

Equities bankers are trumpeting a wave of new enthusiasm for Africa and two new deals are set to try to capitalise on this momentum.

Perella Weinberg Partners said on Monday that Alex Wilmot-Sitwell, former president of Bank of America Merrill Lynch in EMEA, and one of the UK’s most senior corporate financiers, will join as a partner in its advisory business. He will be joined by Matthew Smith, Barclays’ head of UK corporate finance.

Italian scooter maker Piaggio announced a high yield bond roadshow on Tuesday, the seventh issuer to do so in five days as volumes continue to rebound after a difficult February.