Bank of America

The Republic of Korea looks set to be the first Asian sovereign to hit the international debt market in 2017, with plans to meet fixed income investors next week for a potential dollar bond.

Syndication of the acquisition financing loans for Lonza and Sibanye Gold is expected to begin soon, as loans bankers begin 2017 in an optimistic mood.

The European Investment Bank set a marker on Wednesday that sterling issuance could be just as hot this month as it was in January last year — as another pair of issuers hoped to add further evidence of that this week.

Bank of Cyprus announced a roadshow for its first new-style tier two bond on Wednesday, in a move that will shed light on the strength of risk appetite in the FIG market as investors take a close look at the rare borrower.

Israel became the first emerging market sovereign to put down a marker in the bond market this year with the announcement of a European roadshow next week.

Likely faced with an assault course of volatility inducing events this year, emerging market issuers will be keen to raise cash early before Brexit/Trump/rate rises/European elections (delete as appropriate) come to blight the market.

Real estate company China Aoyuan Property Group has become the first issuer in Asia ex-Japan to launch a dollar bond in 2017, marketing a three year on Wednesday.

Bank Nederlandse Gemeenten (BNG) launched the first SSA benchmark of 2017 on Tuesday. While the agency raised €1bn, its success was muted in comparison with the way it opened 2016.

KommuneKredit and the Asian Development Bank (ADB) will reopen the dollar market for SSA borrowers on Wednesday. Meanwhile, the EIB is lining up to perform the same service in sterling bonds.

The Hong Kong IPO market has started 2017 with some action as two Chinese issuers unveiled fundraising plans to seek a combined HK$4.2bn ($533.8m).

Equity investors have something new to believe in: fiscal largesse in the US kickstarting global growth. That’s good news for the many companies and banks with capital to raise in 2017 — the trouble is, markets are likely to be as volatile as Donald Trump’s temper. By Jon Hay, additional reporting by Aidan Gregory

Europe’s convertible market is no longer dripping with superlatives as 2017 begins — middling performance and mild outflows have taken out some of the heat. That may be a good thing, as investors may get more of the deals they like: for companies whose credit needs some looking at, but with interesting equity stories. Aidan Gregory and Jon Hay report.