Bank of America

Chinese residential property manager Greentown Service Group has filed a preliminary prospectus with the Hong Kong Stock Exchange as it vies to float on the city’s main board.

Italian banks have come through a challenging year as pressures — from regulators, markets and the economy — waxed and waned. Issuers and investors have had to navigate the looming introduction of the Bank Recovery and Resolution Directive, Total Loss Absorbing Capacity and Minimum Requirement for own funds and Eligible Liabilities, which have changed the dynamics between senior unsecured paper, covered bonds and capital issuance. The Italian market also felt one of the strongest impacts in the eurozone from the European Central Bank’s quantitative easing programme, which provided cheap liquidity and tightened issuance spreads, but in some cases appeared to drive investors away and into higher-yielding asset classes. Meanwhile, an economy clawing its way back to health continued to impose a heavy burden of non-performing loans, and legislative reforms left smaller players in the sector looking for merger partners. In this roundtable, held in early December, leading funding officials and bankers gathered to discuss these issues and more.

A $305m three year borrowing for Tata Power's subsidiary, Khopoli Investments, has received commitments from two banks, having been in general syndication since September.

National Australia Bank has laid out its plans to float its UK mid-sized bank unit CYBG in London early next year.

Industrial and Commercial Bank of China (ICBC) London has become the lender’s third branch to issue a dollar bond in just over a month. This is part of the issuer’s plans to ramp up its presence in the international debt market with bankers expecting more of its branches to join in.

Industrial and Commercial Bank of China’s London branch started receiving bids for a three year bond on December 11, in what is the third dollar deal by a unit of the Chinese lender in just over a month.

At this time of year, attention in the equity capital market is divided between avidly fighting for next year’s mandates, which are beginning to mount up — and counting the spoils from this year. Has it been a good, bad or indifferent year — and for whom?

Any bankers who had written off December for corporate bond issuance were forced to eat their words on Wednesday, when Vonovia, the German housing company, issued a €3bn deal to finance its hostile takeover bid for Deutsche Wohnen, and won a book of over €7bn.

Standard Chartered and Lonmin will each begin a new chapter in their stories on Friday, as results are published of their rights issues, books for which closed on Thursday.

Goodyear Dunlop Tires, the US tyre maker, issued €250m of eight year senior notes on Wednesday. The notes are rated Ba1/BB, with a coupon of 3.750% and non-call protection of three years.

Unitymedia, the German cable operator, this week priced €420m of senior secured 10 year notes to yield 4.625%, the wide end of price talk.

Unitymedia, one of Germany’s largest cable operators, launched a €420m senior secured high yield bond today.