Bank of America

A trio of SSA borrowers squeezed into a narrow window of issuance this week to enjoy exceptionally strong conditions in dollars. Origination bankers will be beating at the doors of any funding officials that still have work to do this year to persuade them to mandate for next week and take advantage.

FGA Capital, the car finance arm of Fiat, returned to the bond market on Monday for its third bond of the year.

Institutional investors piled into Nordea’s debut additional tier one issue this week, taking the lion’s share of the order book. The bank’s high capital ratios, distance to trigger and solid reputation drew in a multiple times oversubscription, despite the leads bringing in pricing to the tightest level seen yet on an AT1 deal.

A burst of M&A announcements early this week from Danish national phone carrier TDC, auto parts maker ZF Friedrichshafen in Germany and French telecoms firm Orange lifted the mood in the western European loans market. But Orange's financing plans, which include hybrid bonds, show that deals may not always lead to loan mandates.

UK equipment hire company Speedy Hire has signed a £180m asset-backed revolving credit facility, to replace a £220m facility signed three years ago and due to mature in August 2015. The margins and fees on the facility have been reduced across the board.

China’s Honghua Group opened books for its debut international bond on Thursday. The oil rig maker is offering a five year non call three dollar bond.

Korea Western Power (Kowepo) made a solid return to the dollar market on Monday, pricing a five year bond that was nearly four times subscribed. Despite a soft start to the week, the quality of the credit and the strategy of capping the deal size at $300m proved a draw for investors.

Hong Kong insurer FWD issued its debut international bond on Wednesday, September 17. Offering a Reg S 10 year dollar deal capped at $325m, the borrower received an enthusiastic response and was able to price the paper without a new issue concession.

Reliance Industries’ telecom arm Reliance Jio Infocomm has picked a consortium of 15 banks to lead its $1.5bn refinancing.

Investment banking fees in China have reached a record this year, so it is no wonder that banks have moved to ramp up their expertise in the country. Bank of America Merrill Lynch is the latest to strengthen its credentials, hiring Morgan Stanley veteran Alex To.

Nordea burst into the additional tier one market on Tuesday with its debut deal, a dual tranche dollar print. The issuer was able to draw a multiple times subscribed order book despite securing the lowest coupon yet in the format.

Mobile and web games operator Feiyu Technology International Company is looking to raise between $150m and $300m from a Hong Kong IPO, and has filed a preliminary prospectus with the regulator.