Bank of America

India’s Reliance Industries is the first to take advantage of the positive sentiment around the country following the sovereign’s ratings upgrade last week. The petrochemical to digital services conglomerate started marketing a dollar bond on Monday morning.

A broad range of Chinese issuers have mandated banks to arrange roadshows in Hong Kong and Singapore early next week ahead of their dollar bond transactions.

Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.

A €30bn debt exchange by Greece’s Public Debt Management Agency began on Wednesday and should help the sovereign boost the liquidity in the long end of its curve, said SSA bankers. But some warned that liquidity cuts two ways, meaning the sovereign’s levels could be more sensitive to any bad news that comes its way — although those working on the deal feel the upside far outweighs that risk, writes Craig McGlashan.

Single digit new issue premiums had survived the secondary market weakness in corporate bonds of the previous few days, but on Wednesday Vodafone had to pay up as it sold a three tranche deal significantly wide of where its existing bonds were trading.

Emaar Development, the real estate development unit of Emaar Properties, has priced its Dh4.8bn ($1.4bn) IPO below the mid-point of the initial range, valuing the business at Dh24.1bn ($6.6bn).

Borrowers and investors marched on in the European leveraged finance markets this week, pricing €1.5bn of high yield bonds while bankers have been able to tighten terms on new loan deals during syndication. Deals pulled earlier in the week in the US are already a fading memory.

UK pest control company Rentokil launched its €400m seven year offering on Thursday morning, alongside two three year offerings from the utility and car leasing sectors.

Concord New Energy Group, a Chinese wind and solar power company, was forced to pull its planned green dollar bond debut on Wednesday after it was caught in a down market.

Hong Kong’s Wing Lung Bank managed to raise $400m from a Basel III tier two bond on Wednesday, braving increased volatility to find a source of replacement capital.

Russian retailer Magnit is continuing its capital raising efforts, after its CEO Sergey Galitskiy sold a block of shares on Tuesday night, in the first leg of what is locally called “a top-up” transaction.

Greece has fired the starting gun on its latest debt rehabilitation effort, after launching a roughly €30bn exchange offer for 20 bonds it issued as part of its restructuring in 2012.