Barclays

Huvepharma - MacDermid - GNF Telecom - Amtek - Orion - Continental Foods

Internal moves into Deutsche's SSA syndicate — Barclays hires BAML levfin banker — All change at JP Morgan ECM — StanChart makes switch to replace Nelson

US chemicals producer Macdermid will today close the order book for a $505m loan to back the buyout of Chemtura Agrosolutions by its parent company, Platform Speciality Products.

The telecoms arm of Spanish utility Gas Natural Fenosa is set to allocate its €325m acquisition loan on Thursday.

Olam International embarked on the next stage of its capital markets rehabilitation this week with a new dollar bond. The Singapore-based borrower was intent on repricing its existing curve, and duly presented the market with aggressive initial guidance. That approach drew some criticism, but bankers on the deal said the borrower achieved what it had set out to do, writes Virginia Furness.

China Development Bank (CDB) priced a new 10 year dim sum bond on Wednesday. The bond was issued on the back of reverse enquiry from insurance firms that had a clear idea of what they wanted to pay, said bankers.

Global Cloud Xchange (GCX), a subsidiary of Indian telecommunications company Reliance Communications, priced its debut international bond on Thursday, July 24. The non-call two structure is fairly unusual in Asia, but is expected to offer the growing company more flexibility in the future.

Emerging market loan bankers were thrown into confusion on Wednesday following the US and EU’s decision to widen sanctions on Russia, amid contrasting views on whether the European component extends to new syndicated and bank loans. The most immediate impact would be on VTB’s prospective $1.5bn deal, which was said to be close to the line last week but has since stalled, while some bankers believe sanctions fears alone could spell a broader shut out of Russian borrowers from both bonds and loans.

Anglo-Dutch publisher Reed Elsevier issued its latest five year bond in sterling last Friday, taking advantage of limited supply to meet some of its funding needs in the currency.

Barclays has had a shocking quarter for rates revenues, with macro (rates and FX) down 27% to £504m. While the US banks, Credit Suisse and Deutsche Bank had softer landings in their fixed income trading businesses than expected, thanks to a pick-up in volumes during June, Barclays, which has committed to cutting long-dated and structured rates, seems to have been hit hard.

Olam International made its return to the dollar bond market just two weeks after pricing a S$400m ($322m) well inside its existing curve. The borrower was hoping for an equally strong come back in dollars but while bankers on the deal claim it was a great success, those away from the trade say it struggled as pricing was too aggressive.

China Development Bank (CDB) has opened guidance on a new 10 year dim sum bond. The policy bank, which is known for its innovative approach to the capital markets, is returning to the offshore renminbi market for the second time this year.