Bank of America

China Merchants Land has scooped $290m through a convertible bond priced in its favour, as the presence of a standby letter of credit gave comfort to investors. But the extent to which the CBs traded up following the deal suggested that the issuer could have got away with more aggressive terms.

European Investment Bank tapped a 2021 sterling floating rate note for £250m on Wednesday. Some sterling buyers are moving from the short end to the belly of the curve in search of yield, said SSA bankers.

Ineos, the UK chemical company registered in Switzerland, is allocating €2bn of leveraged loans after an amend-and-extend exercise that led to refinancing some dollar debt.

Santander UK’s debut additional tier one (AT1) impressed on Wednesday, drawing £5bn of demand and lending confidence to a string of issuers looking to print before the summer amid tricky conditions.

Argentine government-linked issuers are eking out some level of market access despite the sovereign being in default, with the Province of Buenos Aires the latest to tap international bond investors.

China Merchants Land has scooped $290m through a convertible bond priced well in its favour, as the presence of a standby letter of credit gave comfort to investors who viewed the notes as a safe bet. But the extent to which the CBs traded up following the deal seems to suggest that the issuer could have got away with more aggressive terms.

Akbank’s attempt to raise a $250m three year loan has received a strong response, say bankers involved, as details of the deal’s fee structure have emerged.

Woori Bank is well underway with what will be the first Basel III additional tier one (AT1) from a non-Chinese bank in Asia ex-Japan. Bankers on the deal officially launched bookbuilding with price guidance on June 3, having collected feedback from investors the previous day on fair value and the best comps.

Deutsche Bank has poached a managing director from Bank of America Merrill Lynch to co-head its corporate broking team.

The Asian bond market woke up to a slew of new issuance on June 3 with six deals all vying for investor attention. And in the midst of the action is Indian telecommunications giant Bharti Airtel, which is enticing bids for a new 10 year dollar offering.

US flooring manufacturer Mohawk Industries made its euro debut on Tuesday, aiming to fund its acquisition of Belgium's IVC Group. However, leads could not tighten pricing from initial price thoughts.

Rentenbank opted to increase the size of a 10 year dollar benchmark over squeezing the pricing tighter on Tuesday.