Bank of America

The offshore renminbi market continues to attract new borrowers with a pair Chinese companies preparing to make their debuts in the currency.

Coventry Building Society drew more than £3.25bn in investor demand as it issued a unique — and likely its only — additional tier one capital deal, in move that could open the door for other mutuals to raise regulatory capital efficiently.

Eurobank on Thursday became the last of Greece’s big four banks to return to the capital markets after the country’s 2010 bailout. While the deal didn’t reach the blowout heights of some of its predecessors, it was received favourably and concluded a strong week of senior issuance that saw Dutch bank ING grab a hefty order book at an aggressive level.

Barclays is set to issue £2.27bn equivalent of CRD IV-compliant additional tier one securities after completing its offer to exchange old-style tier one bonds on Friday, bringing the bank’s total outstanding volume of new-style AT1 to more than half its £7bn target.

Bank of America Merrill Lynch is planning a push up the euro supranational, sovereign and agency league table, a business line many institutions are cutting as they argue that it barely turns a profit.

Taiwanese circuit board manufacturer Zhen Ding Technology Holding (ZDT) raised $300m on June 18, finding better terms than when it made its equity-linked debut two years ago.

Noble Group this week priced the latest in a series of corporate hybrids from Asian issuers, bringing a $350m perpetual non call five. The global supply chain company was refinancing its existing perp after the triggering of an early redemption event in April last year. But although the bold move sparked controversy and enraged some investors, the issuer was able to tap into a new group of buyers and get cheaper funding, writes Isabella Zhong.

Property manager Colour Life Services Group started marketing its HK$1.15bn ($148m) IPO on Tuesday, in a deal that was fully covered by anchor orders.

Coventry Building Society is out with its innovative debut additional tier one, looking to raise £400m in deeply subordinated capital that would convert to equity-like core capital deferred shares (CCDS) that won’t exist unless the building society’s common equity tier one ratio falls below 7%, according to investor materials seen by GlobalCapital.

The reputation of Liberty Global and Discovery Communications played a decisive part in mitigating lenders' concerns about All3Media's credit quality to secure the television production company a £400m-equivalent loan deal, loans bankers said.

Commercial Bank of Qatar priced its first dollar deal in more than two years flat to its existing curve on Tuesday after attracting more than $3bn of demand.

The International Capital Markets Association is trying to help foster a pan-European private placement market, but bankers are cautions about the market and do not expect it to make up a big part of their business, they have told GlobalCapital.