Bank of America

Spanish car parts maker Gestamp on Wednesday priced a €500m secured bond to redeem all of its old euro notes at first call.

The Singapore branch of Industrial and Commercial Bank of China has become the lender’s first offshore unit to issue a fixed rate dollar bond this year, raising a larger than expected $800m.

Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.

Vodafone has mandated six banks for the IPO of its Indian arm, which could raise up to $2.5bn, according to sources close to the situation.

Mubadala Development Company has mandated six banks for its first dollar benchmark since 2014 — making it the first public international bond with Peter Turney, an ex-Mitsubishi and BNP Paribas DCM banker at the helm.

Turkey’s Garanti Bank has increased the amount of dollar commitments in its latest loan refinancing versus the expiring deal, bucking the recent trend or the country’s banks.

Industrial and Commercial Bank of China’s Singapore branch has ventured out to the dollar bond market straight after the end of Labour Day holidays, launching a three year offering on Tuesday.

Central American sovereign Guatemala sold its first international bond in three years this week, with market participants saying a strong technical bid from local investors helped it to a relatively tight yield.

A flotilla of IPOs reached harbour safely this week, through waters calmed by the European Central Bank’s quantitative easing medicine, and whatever other magical ingredient has made financial professionals feel so much better since Easter. But one debutant tripped up and another IPO was pulled.

Abu Dhabi’s $5bn note, priced Monday, dazzled with size and rarity, but also set the bar for other Middle East sovereigns facing unprecedented funding needs. How that capital is raised could come to define the year in emerging market bonds, writes Francesca Young.

JD.com’s inaugural outing in the international bond market could not have veered any further from expectations when the notes tanked in the secondary market. An overzealous pricing strategy was the main culprit for the poor performance, but divisive credit ratings for the Chinese company did not help either. Rev Hui reports.

Abu Dhabi-owned Mubadala will wrap up its $2bn refinancing by the end of May and has achieved roughly the same margin as the loan it refinances, according to two sources.