Bank of America

Japanese brewer Suntory Holdings’ chances of pricing its first dollar bond are looking good with books for a $1bn dual tranche offering already covered by Asian investors on the afternoon of September 24.

Vallourec’s bond issue may have gone well today, but for the other corporate issuers in euros and sterling it was a much rougher ride. Accor launched a €150m tap and RCI Banque a £250m sterling three year – but neither managed to tighten pricing from their initial thoughts.

Virgin Media, the UK cable television, broadband and mobile phone company, plans to issue its first senior unsecured bond for two years, with a dual currency deal of £600m.

Pakistan’s equity market had a busy first half, with two deals being priced in June alone. After a summer lull, the country is now back on the radar of equity investors with the government looking to raise a whopping $816m by selling some of its stake in Oil & Gas Development Company (OGDC).

South Korea’s Nonghyup Bank made a solid landing with its return to the dollar market on Monday, September 22. The $300m five year issue received strong support from Asian investors and priced slightly inside of the borrower’s outstanding 2018s.

Malaysia’s RHB Bank is looking to issue its first dollar bond since 2012. The borrower will be meeting investors this week for the proposed senior notes.

Monday was a soft day for equities and credit spreads, but BP had little if any hesitation in launching its second large euro bond of the year. The UK oil company’s deal was the eighth big dual tranche deal in euros since BMW set the fashion on August 26.

Abengoa, the Spanish renewable energy and engineering firm, announced a roadshow on Monday for a green bond – the first in euros for a high yield issuer.

Japan’s Suntory Holdings has mandated six banks for what would be the company’s inaugural dollar deal. The brewer and distiller is looking to make a dual tranche dollar issue.

Korea’s Nonghyup Bank returned to the dollar market on Monday, opening books for a Reg S/144A five year issue. The target size of the bond is believed to be $500m.

Reliance Industries’ telecom arm Reliance Jio Infocomm launched its $1.5bn dual facility refinancing loan into general syndication on Friday, after cementing a mandated lead arranger and bookrunner group with 15 banks.

Retailer Puerto de Liverpool has mandated Bank of America Merrill Lynch and Citi for investor meetings ahead of a debut cross-border bond transaction, according to a DCM banker close to the company.