Bank of America

Industrial Bank of Korea (IBK) mandated six banks on Wednesday, April 15 to run its first outing to the dollar bond market in almost three years.

The first accelerated bookbuild in shares of Virgin Money, the UK challenger bank that floated in November, is taking place this evening, through Bank of America Merrill Lynch and Goldman Sachs.

RWE, the German electricity and gas company, issued €1.25bn of hybrid bonds on Tuesday, which are expected to partly replace its €1.75bn hybrid issued in 2010 and to be callable in September.

The FIG market could be set for a spate of issuance from the eurozone’s periphery in the coming weeks, with bankers tipping other financial institutions to follow Spanish pair CaixaBank and Ibercaja into the primary market.

China Cinda Asset Management is planning to issue a dollar-denominated bond by the end of the week after announcing the roadshow schedule for trade on April 14. While the size of the offering will not eclipse industry peer Huarong Asset Management’s bond at the start of the year, market participants are still expecting it to be big.

The term loan portion of MMI International’s $580m five year borrowing has attracted about $180m-$200m in commitments. Banks have thrown their weight behind the deal, notwithstanding a negative watch on the company by ratings agency Fitch.

Japan Finance Organisation for Municipalities is set to add to a recent splurge of seven year dollar issuance on Tuesday, after mandating banks for a RegS deal on Monday.

Moody's, Standard & Poor's and Fitch have all put Royal Dutch Shell on negative outlook or watch for downgrade for its acquisition of BG Group, though bankers say it should not affect Shell's cost of borrowing.

Lloyds opened the senior FIG market for the week on Monday, drawing a diminished order book for a five year compared to its most recent senior prints.

The holding company of Montevideo’s Carrasco International Airport has hired Bank of America Merrill Lynch and Nomura to manage a three day roadshow, ahead of a senior secured project bond that could potentially be used to pay a dividend to shareholders.

ZF Friedrichshafen is preparing to launch its long-awaited first public bond, to refinance its acquisition of TRW Holding of the US last year.

Hyva Global, a truck parts maker controlled by private equity firms, is looking for a $295m financing. The facility is offering a high initial margin and generous fees.