Bank of America

The dollar high grade market slowed to a subdued pace this week following the bonanza of the previous one as corporates with funding needs lined up their documentation after reporting earnings.

Shares in RPC Group, the UK plastic packaging maker, closed 5.8% lower on Thursday after it announced a fully underwritten £552m rights issue to finance its takeover of Letica, a US rival.

Adorabella Ltd, a vehicle controlled by billionaire Andrey Guryev and his family, has sold a 4.5% stake in PhosAgro, the Russian maker of phosphate-based fertilizers, for Rb14.8bn ($250m) via an accelerated bookbuild on Wednesday night that was covered in an hour.

The Asian Development Bank on Thursday hit new heights in benchmark issuance, as it sold its largest ever single tranche deal in a week that has been marked by tricky conditions.

It took a trim of the offering size and issuer’s leverage ratio to sway high yield investors, but French glass packaging manufacturer Verallia finally priced its new bond on Thursday.

Istituto Centrale delle Banche Popolari Italiane (ICBPI) on Thursday sold a payment-in-kind bond to fund its latest acquisitions in the consumer card sector.

Sidera Funds has launched a new investment sub-fund that tracks euro and US high yield indices from Bank of America Merrill Lynch, but goes beyond geographies and currencies.

Future Land Development Holdings is hunting for $350m from a new three year note launched on Thursday morning, with pricing tightened aggressively at the end of the day.

Silgan Holdings, a maker of consumer goods packaging in the US, this week priced the first cross-border high yield deal of 2017 as it plans to repay term loans.

Finland launched its first ever dual tranche deal on Wednesday, scoring €3bn with a five year leg and €1.5bn at 30 years. The issue comes on the heels of an immensely popular Belgian barbell printed on Tuesday.

Bank Nederlandse Gemeenten showed that investors in its dollar bonds are not overly concerned about an upcoming Dutch general election, as it priced a bond on Wednesday that was just $250m short of its record size in the currency. More public sector dollar supply is set for Thursday, after Asian Development Bank hired banks for a five year global benchmark.

Panera Bread, the US chain of bakery cafes, received $200m from six lenders this week as it served up healthy financial results on Tuesday.