Bank of America

The $1.5bn flotation of EN+, the aluminium and power company controlled by Russian oligarch Oleg Deripaska, in London and Moscow is coming during a hot time for the aluminium market and will help to seal a partnership between Russian producer Rusal and Glencore.

Two more public sector borrowers are set to add to the flurry of socially responsible investments dominating the upcoming SSA pipeline late in the year.

NRW.Bank brought a large sterling bond this week that was more than doubly subscribed, in what was a “great outcome”, according to bankers away from the trade. The deal came as the UK Debt Management Office picked the tenor for its next syndication.

Hutchison China MediTech pocketed $300m this week after executing a follow-on offering of its Nasdaq-listed American Depository Shares, increasing the deal size as it went.

Singapore’s Reit issuers had a busy week, with Keppel-KBS US Real Estate Investment Trust off to a good start on its $448m IPO and Mapletree Industrial Trust raising S$155.7m ($114.5m) from an overnight placement.

Industrial & Financial Systems (IFS) closed the loan funding for its acquisition of WorkWave without further syndication on Wednesday, evidence the market is still keen on small size offerings amid a raft of large deals.

The European high yield bond pipeline this week brought €1bn of single-B rated offerings in euros and sterling from new issuers, giving hope to those working for a bigger borrower base for the market.

The Export-Import Bank of Korea (Kexim) sold a $2bn deal on Tuesday that looked almost identical to the issuer’s January trade.

China Literature’s IPO in Hong Kong, set to raise up to HK$8.3bn ($1.1bn), has been hotly received by investors. Books were well oversubscribed with no price sensitivity at the range given, said a banker at one of the leads.

Hutchison China MediTech hit the market on Wednesday with a view to raising around $262m from a follow-on sale of American depository shares (ADS), according to a term sheet seen by GlobalCapital Asia.

Keppel-KBS US Real Estate Investment Trust has started bookbuilding for its $448m IPO in Singapore, the city-state’s second Reit listing backed by US assets.

Euro corporate bond issuance was much cooler on Tuesday after Monday’s fireworks. “Maybe everybody parties on day one and is a bit hung over on day two,” mused one syndicate banker.