Bank of America

361 Degrees has made a smooth debut in the dollar bond market this week, raising $400m from a five year non call three deal. Thanks to the niche industry and strong technicals, the deal tightened 30bp in secondary as investors who did not get an allocation in primary rushed to the aftermarket.

The City of Buenos Aires lived up to its reputation as the best sub-sovereign credit in Argentina after pricing a new bond just 50bp over where leads believed the sovereign would have sold a new 10 year.

Monsanto has rejected Bayer’s all-cash bid of a $62bn enterprise value as “incomplete and financially inadequate”, but left the door open to an improved offer.

UK investors showed no jitters on Tuesday about a potential UK exit from the European Union, as the sovereign’s last syndication before the EU membership referendum drew a book of more than £15bn — a record for an inflation-linked Gilt syndication.

Monday's three primary deals underperformed in the secondary market, causing deal flow to strike a lighter tone on Tuesday, with two corporates issuing modestly sized offerings.

Evry, the Norwegian IT firm 88% owned by Apax Partners, has bank meetings on Wednesday morning for its €275m equivalent dividend recapitalisation term loan ‘B’.

Asia’s green debt market grew further this week with Axis Bank becoming the third Indian issuer to sell green bonds internationally. Although market participants expect more offshore FIG issuance from the country, there are internal and external headwinds to overcome.

China Three Gorges Corp, CCB Leasing and 361 Degrees International are looking to take advantage of a tight window to get their dollar fundraisings out of the way ahead of a speech from Federal Reserve chairwoman Janet Yellen on Friday.

ICBC continued its debt-raising spree on Monday, with the New York branch becoming the third of the lender’s units to sell a bond this month. But while the deal resonated well with Chinese bank treasuries, signs of investor fatigue are starting to appear.

The City of Buenos Aires is set to issue a new 11 year amortiser on Tuesday after announcing initial price thoughts that will make it the tightest of all the recent sub-sovereigns to have issued in Argentina.

Bank of America Merrill Lynch and Credit Suisse are supporting Bayer’s $62bn bid for American agribusiness giant Monsanto and more banks are working on a loan for the deal, according to two bankers.

Bayer could be preparing to issue one of the five biggest rights issues ever, and the largest by a non-bank company, as part of the financing for its $62bn bid for Monsanto, the US agricultural chemicals and bio-engineering business.