Bank of America

The Ministry of Strategy & Finance of the Republic of Korea has yet again sold a chunk of its shares in Industrial Bank of Korea (IBK). The strong investor demand allowing the government to increase the size of its sale by a whopping 46% to W364.2bn ($353m).

CCB Asia priced a $200m tap of its 3.25% 2019s on Wednesday. The borrower landed the tightest spread for a five year dollar issue by a Chinese bank this year as appetite for China brought in an eight times subscribed order book.

Israeli energy conglomerate Delek Group has set price guidance on a €655m loan to back the sale to TDR Capital of its petrol station and convenience store operations in Benelux and France.

A tinge of risk-aversion crept into the US corporate bond market on Thursday, as investors digested the US government’s decision to broaden its sanctions on Russia over the situation in Ukraine.

David Ross, co-head of European leveraged capital markets at Bank of America Merrill Lynch, has left the firm, GlobalCapital has learned, while three more junior leveraged finance bankers also quit earlier this month.

All of the big US investment banks have beaten grim expectations for their fixed income trading divisions, despite a collapse in volumes far more severe than that in the first quarter and volatility that is still on the floor, writes Owen Sanderson.

Trade & Development Bank of Mongolia (TDBM) was forced to pull its dollar bond after announcing guidance on Thursday July 9. While bankers on the deal blamed shockwaves from a bank crisis in Portugal, investors said they were not willing to take on Mongolian risk and that the deal hardly received any orders at all.

Bank of America Merrill Lynch became the first US bank this year to post a year-to-date rise in revenue from their fixed income, currencies, and commodities business, announced in their second quarter earnings report on Wednesday.

Caixa Econômica Federal sold the first Basel III compliant tier two bond from a Brazilian issuer on Wednesday, but the government owned development bank is unlikely to trigger a flurry of copycat deals.

CCB Asia reopened its 3.25% 2019s after seeing the spread on its debut five year dollar bond tighten by 28bp since launch. The deal had already attracted $1.5bn in orders by 2:19pm Wednesday.

Israeli energy conglomerate Delek Group has set price guidance on a €655m loan to back the sale of its petrol station and convenience store operations in the Benelux and France to TDR Capital.

Kuwait Energy has mandated Bank of America Merrill Lynch as the sole bookrunner for a Reg S dollar bond. The roadshow for the deal will start on July 15.