Bank of America

Telefónica Internacional carried out the second weekend block trade of the year to raise HK$2.82bn ($363.43m) for its China Unicom sell-down, and the unusual timing worked in the vendor’s favour.

Warehouse developer China Logistics Property Holdings Co has added HK$3.4bn ($438.3m) to its coffers after sealing a Hong Kong IPO at the top of price guidance, according to a source close to the deal.

ICBC Luxembourg became the Chinese lender’s fourth overseas unit to issue a fixed rate dollar bond this year, raising $800m from a three year offering.

Hong Kong Telecommunications (HKT) stood out in what was a very crowded Thursday for the Asia ex-Japan dollar bond market, pricing the region’s tightest triple B rated 10 year bond.

The Asia ex-Japan additional tier one market could finally be getting some action with Industrial and Commercial Bank of China (Asia) set to go on the road next week for its debut AT1.

At the end of the first half of this year, the top three banks for CEEMEA have remained staunchly in place from last year, with Citi leading the pack, but there has been a shake-up further down the table. Bank of America Merrill Lynch has entered the top 10 in fifth position and French houses BNP Paribas and Société Générale have fallen to ninth and 10th, respectively.

UK investors eager for North American exposure rushed to buy into Melrose Industries on Wednesday, pushing its shares up 46%, after it announced a heavily dilutive £1.655bn rights issue to finance the acquisition of Nortek, a US maker of heating and air conditioning systems.

With the Republic of Macedonia on the road for the first euro-denominated bond from an emerging market issuer since Brexit and EM credit continuing to rally, bankers are expecting a strong few weeks pre-summer.

The Asian debt market has had a slow but steady stream of deals since the Brexit vote on June 23, but Bank of China blasted the issuance window wide open on Tuesday with a $3bn five tranche, multi-currency transaction — the region’s largest international green bond. Max Bower reports.

A pair of Chinese firms are preparing potential multi-billion-dollar deals. Postal Savings Bank of China Co is seeking approval for a Hong Kong IPO that could raise up to $8bn, according to sources familiar with the matter, while China Resources Beer (Holdings) Co is aiming to net HK$9.5bn ($1.2bn) from a rights issue in the next few weeks.

Two South Korean banks, Woori and Busan, are preparing for investor meetings next week as they both line up bond issues.

The Asian debt market has followed up strongly on Bank of China’s successful $3bn green bond, with five deals launched on Thursday and more expected.