Bank of America

The $1.78bn IPO of Chinese online retailer JD.com got a rousing reception from investors, so much so that bankers on the trade were forced to cross out one third of the bids.

Banca Inbursa, the Mexican commercial bank owned by Carlos Slim’s family, will begin a roadshow on Friday ahead of a planned 144A/Reg S bond.

Several companies including GDF Suez delayed plans to issue corporate bonds in Europe on Wednesday, as markets looked ugly at the open. There was a flurry of MTN and niche currency issuance this week, especially from BMW, but the only mainstream corporate bond issue on Wednesday was from Prologis, the US warehouse Reit.

Several companies delayed plans to issue corporate bonds in Europe today, as markets looked ugly at the open. There has been a flurry of MTN and niche currency issuance this week, but the only mainstream corporate bond issue today was from Prologis, the US warehouse Reit.

Syndication has launched on $14.2bn of debt to back German chemicals and pharmaceuticals firm Bayer's purchase of Merck & Co's consumer care business.

Nordea will return to the Samurai market after an absence of a year this week, selling three and five year fixed rate notes. The lender may also add floating rate tranches, given enough investor demand.

Yanzhou Coal Mining (Yancoal) priced a perpetual non call two year hybrid on Thursday to bolster its balance sheet. As slowing economic growth in China fans concerns about the future prospects of the country’s coal industry, the issuer took a cautious approach to structuring and had to pay a hefty premium.

US corporate bond issuers had the whip hand this week, as US Treasury rates fell, issuance was in short supply and redemptions filled investors’ pockets with cash.

Pearson, the UK educational and financial publishing group, returned to the euro bond market on Monday after a long absence, and priced a bond right in line with the secondary spreads of its closest media peers. It was followed on Wednesday by a €350m three year deal from competitor Reed Elsevier (see globalcapital.com).

Westpac has priced the first dollar-denominated benchmark covered bond of 2014. On Wednesday the issuer opened books for a five year deal and a three year senior unsecured after mandating Bank of America Merrill Lynch, Citigroup, HSBC and JP Morgan.

Online retailer JD.com is setting its sights on a $1.7bn Nasdaq listing, having started taking orders for what is the largest flotation yet of a Chinese tech firm in the US. JD.com’s deal comes hot on the heels of the much publicised IPO application by rival Alibaba, but bankers on the trade have dismissed it as nothing more than a coincidence.

Encouraging Indian election exit poll results, a recent rating upgrade and rarity value all helped Bharti Airtel price a jumbo dual currency issue on Monday. Voracious investor appetite enabled the issuer to price flat to its existing curve, but ample leftover demand could see a replay of the hefty taps the issuer made last year, writes Isabella Zhong.