Bank of America

Hutchison Port, Central American Bank for Economic Integration and ICBCIL opened books for their respective bonds on Thursday, March 12, in what is looking to be a busy end of the week for the Asian debt capital markets.

Panama sold $1.25bn of 10 year notes on Wednesday at a tighter new issue premium than other recent sovereign issues from Latin America had managed as LatAm markets enjoyed a better day after a torrid start to the week.

The starting gun has been fired for the long-awaited quasi-IPO of Finansbank. The National Bank of Greece, which owns almost all the Turkish bank, will sell some of its shares, though the $1bn deal will consist mainly of new capital.

Investors are seeing good value in the long dated tranches of a landmark $7bn four tranche bond and sukuk deal from Malaysia’s state oil and gas company Petroliam Nasional (Petronas), which opened books on Wednesday morning. If the issuer gets the trade away at its target size, the deal will be the second largest in dollars from Asia ex Japan.

Inox Wind is set to launch its Rp10.40bn ($168.39m) IPO on March 18, in what looks to be India’s largest listing in nearly two years. The deal is already generating lots of buzz given its credentials as a unit of the Inox Group and for being a rare issuer in the renewable energy sector.

Malaysia’s state oil company Petroliam Nasional (Petronas) has started taking orders for a four tranche dollar deal split between a five year sukuk alongside seven, 10 and 30 year conventional bonds. An investor said he was expecting a total size of $6bn-$7bn, making the deal potentially the second biggest G3 bond in Asia ex Japan after Alibaba's $8bn deal last year.

Flowserve, the industrial engineering company based in Irving, Texas, issued a €500m seven year bond on Tuesday.

Canada is taking indications of interest on a three year dollar benchmark, amid a busy week of SSA issuance in the currency.

The European Stability Mechanism has made a strong case that negative yielding bonds are an option for SSA issuers, after building a thumping book for paper yielding minus 0.07%.

Auto Trader looks increasingly likely to achieve its desired valuation of £2.5bn, as the online new and second hand car website's London listing got covered throughout the range on the first day of bookbuild.

Ineos, the Swiss-registered chemical company, has cut pricing on its €1.4bn loan after increasing the facility, a move that investors seem to have taken in their stride.

Auto Trader today opened the book on its London listing, as the firm’s private equity seller Apax aims to raise up to £1.25bn from the offering.