Bank of America

Few bankers were happy with their bonuses at the start of 2016, despite a surge in the value of their payments.

Ascential, the information and events business formerly known as Top Right Group and Emap, has narrowed the price range for its IPO, homing in on the middle of the original range, and is covered within that range.

ArcelorMittal bowed to the inevitable and announced a $3bn rights issue last Friday morning, after its credit spread had widened to distressed levels as global steel prices slumped. Goldman Sachs, Bank of America Merrill Lynch and Crédit Agricole are global coordinators.

One more bank has joined the top group for a loan for Tata Power subsidiary Bhira Investments. The borrower had initially shortlisted six lenders for the facility to refinance a $460m loan it wrapped up in October 2014.

As European equity markets briefly rallied on Thursday, Ford Credit Europe (FCE Bank) and Praxair stepped into the breach, printing €1.9bn of paper for a starved primary market.

Kommunalbanken showed there is scope for action in the belly of the dollar curve with the first five year benchmark in the currency for three weeks, but longer dated deals still appear out of reach.

Home Depot brought some much needed relief to the dollar market this week with a $3bn print that demonstrated that investors are prepared to deploy cash for high quality names.

Clydesdale and Yorkshire Bank Group rose when it began trading after its IPO on Wednesday, having completed its separation from National Australia Bank with a £396m flotation.

Kommunalbanken on Wednesday sold the first five year dollar benchmark from an SSA in three weeks, printing a $1bn no-grow bond.

In a secretive deal that has only come to light now, NBAD signed $1bn of tightly priced one year loans with five close relationship banks at the end of last year. The lenders were Bank of America Merrill Lynch, Crédit Agricole, Citigroup, HSBC and Bank of Tokyo-Mitsubishi UFJ.

Worldwide Flight Services, the French cargo and luggage handling company, is seeking to raise €240m through a bond tap and new issue, to support its purchase of US peer Consolidated Aviation Services.

Asia's green bond market welcomed the return of Export-Import Bank of Korea (Kexim) this week. Despite volatility, the frequent issuer priced a green bond flat to its conventional debt and market participants expect more Korean issuers to follow suit, reports Narae Kim.