Barclays

Bankers are preparing the ground for the first Turkish covered bond with Akbank and Garanti Bank lining up for issuance. Pricing for both will be wide of the sovereign and the banks are preparing extensive investor roadshows. While funding officials are confident that the bonds will sell well, syndicate bankers question whether they will find a substantial buyer base.

China Energy Reserve and Chemicals Group raised $200m from its inaugural bond, with the issuer choosing to pay up to compensate for a lack of credit rating. The tactic was effective in getting the deal done, although observers said the bond’s subsequent secondary market performance indicated that it might have paid over the odds.

Barclays has hired a director for its SSA syndicate from Deutsche Bank, GlobalCapital understands.

Titanium, fluoroproducts and chemical solutions business Chemours sold $2.5bn of senior unsecured notes on Tuesday, proceeds of which will go to its parent, DuPont, in the form of a dividend.

Sweden priced an oversubscribed $2.25bn three year on Wednesday while a German state attracted strong demand to its debut in the currency.

Mining company Petra Diamond is planning to price a $300m high yield bond debut on Wednesday afternoon.

China Energy Reserve and Chemicals Group raised $200m from its inaugural bond with the issuer choosing to pay up to compensate for a lack of credit rating. The tactic was effective in getting the deal done although observers say the bond’s subsequent secondary market performance meant it might have paid over the odds.

Sweden has mandated banks to run a benchmark in dollars, taking advantage of a clear window of issuance in the currency this week because of holidays in Japan.

DP World, the container ports group, is roadshowing a dollar benchmark conventional bond issue this week via Barclays, Citi, Deutsche Bank, Emirates NBD, HSBC, National Bank of Abu Dhabi and Société Genérale.

State owned China Energy Reserve and Chemicals Group is venturing out to the dollar bond market for first time in history, opening books to a three year deal on May 5.

Royal Dutch Shell signed a £10.1bn bridge facility on Friday that will back its acquisition of BG Group. The loan replaces the £3bn facility arranged when the deal was announced on April 8.

NH Hotel Group, the Spanish hotel chain, has pulled its €200m senior unsecured bond issue.