Banks

Shurgard Self Storage, a European operator of self-storage facilities, has revised the price range for its €575m IPO on Euronext Brussels and is covered throughout the new range, despite a difficult market where several deals have been pulled and others have traded down in the aftermarket.

Sonangol, the Angolan national oil and gas company, has entered the loan market after a two year absence, following a rise in oil prices.

Luminor Bank, an Estonian financial institution, was looking to place a small senior unsecured deal in the euro market on Wednesday, in spite of volatile market conditions. The transaction will be the issuer’s first step towards reducing its reliance on bank facilities as a means of funding.

Sibur, the Russian petrochemical company, announced a bond buy-back on Tuesday, targeting the borrower’s October 2023 bond.

Corporate bond markets have enjoyed a good run since returning from the summer break. But for the first time since then, an external problem is causing turbulence. The Italian budget has become a live factor in market participation for buyers.

New liquidity requirements will cause a boom in senior bond issuance in the same way that the introduction of capital requirements led to a surge in the supply of subordinated debt, according to analysts at JP Morgan. The analysts said that investors have been underestimating how quickly this trend will impact the euro market.

Trafigura, the Singaporean commodity trading company, issued its third Panda bond this year on September 28. As for its previous outings, the third tranche was placed in the interbank market as a three year private placement. Meanwhile, The Wharf Holdings and China Gas Holding also made their return to the market in the same month.

Hyundai Oilbank, a subsidiary of South Korean shipbuilding firm Hyundai Heavy Industries, is expected to delay its IPO until 2019, according to a banker working on the deal.

Studio City International Holdings launched its $359.4m New York Stock Exchange listing on Wednesday, in a deal heavily anchored by its controlling shareholders.

Robust investor demand and reverse enquiry propelled Maoye International Holdings to make a rapid comeback to the bond market with a tap of its September issuance.

China’s Niu Technologies has launched bookbuilding for its $103.8m Nasdaq IPO, but despite plenty of pre-deal interest, sources don't expect the trade to be a blowout.

London-listed Starwood European Real Estate Finance has added two years to the maturity of its sterling revolving credit facility, as Western European loans bankers get settled in for months of amend and extend exercises running up to year end.