Bank of America

Singapore’s second largest bank, OCBC, is seeking to raise S$3.37bn ($2.7bn) from a one for eight rights issue to strengthen its balance sheet following its $5bn acquisition of Hong Kong’s Wing Hang Bank in July.

Turkey’s Akbank has signed a $1.5bn-quivalent one year refinancing facility, with a higher margin from its most recent deal despite more banks coming in. The loan marks the start of the year’s second wave of Turkish bank refinancings, with Yapi Kredi and Isbank also in the market.

US corporate issuance slowed through the week as books thinned and issuers offered concessions in order to get deals done before the summer holiday season.

This week's postponement of cosmetics packager HCP Global’s $380m term loan B at first raised fears that US investors were growing weary of Asian credits. But with the delay put down to the macro backdrop rather than any anxiety about the issuer, bankers said Asian names will still find a good reception in the US if they have a story to sell, writes Shruti Chaturvedi.

China Construction Bank Asia (CCB Asia) pulled off a smart move this week, getting ahead of an expected September rush of deals to price its debut Basel III tier two offering on Wednesday. With large volumes of bank capital expected from Chinese banks, getting in early allowed CCB Asia to come inside a rival's curve, writes Virginia Furness.

The world’s fourth largest mobile service provider, Bharti Airtel, raised Rp21.4bn ($349m) on August 7 by offloading parts of its stake in Bharti Infratel through a trade that was almost double the size the seller originally planned.

Brazilian meatpacker Minerva took advantage of an empty Latin America new issue market to fetch a well oversubscribed tap of its outstanding 2023s with a narrow premium on Thursday, increasing the planned size of the tap in the process.

Cosmetics packager HCP Global has postponed its US targeted syndication for $380m, with bankers attributing the decision to a summer lull and a tough US market. A new timeline for the loan was being worked out, said bankers close to the deal.

Argentina’s default on exchange bonds on July 30 has inspired in Argentina no inclination to budge from its position that it will refuse to pay holdout creditors more than the 30 cents on the dollar that exchange bondholders received in 2005 and 2010.

The world’s fourth largest mobile service provider, Bharti Airtel, raised Rp21.4bn ($349m) on August 7 by offloading parts of its stake in Bharti Infratel via a trade that was close to double the size of what the seller originally planned.

Landlocked South American sovereign Paraguay surprised some with its timing by issuing its second ever international bond on Monday. But though bankers away from the deal said the 30 year deal created a steep curve, others said the borrower’s strategy was spot on.

The chief financial officer of Latin American development bank Corporación Andina de Fomento (CAF) said the lender’s return to the public dollar markets on Tuesday for the first time in two years showed its new-found appeal to SSA-dedicated bond investors.