Citi

China Merchants Commercial Real Estate Investment Trust has raised HK$2.6bn ($327.6m) from its IPO, breaking a six-year drought of Reit listings in Hong Kong.

Germany’s Volkswagen has signed a €10bn revolving credit facility, with the automobile company taking advantage of a significant oversubscription to double the size of its existing revolver.

China Everbright Bank has raised $500m from a floating rate note that was heavily supported by Chinese banks.

Three Chinese property names hit the bond market on Tuesday, raising a combined $1.624bn in a mix of senior and subordinated trades.

E.On, the German power company, hit the short end of its bond curve on Tuesday, launching a €500m no-grow 2.8 year deal on a tricky day for the wider markets.

Ageas sold a restricted tier one (RT1) bond this week in an effort to replace some of its grandfathered securities. The insurer secured tight pricing, bolstered by about €5bn of orders.

Ellaktor is looking to tempt international investors with a carefully designed green bond that excludes a shaky construction business. The Greek company is looking to replace most of its long-term capital structure, currently heavy on local bank loans.

Italgas, the Italian gas distributor, issued a €500m 12 year bond on Monday, although syndicate bankers said they expected deal flow to diminish to a trickle over the week.

Power company Electricité de France issued its third bond in quick succession on Monday, and investors piled into the book, seemingly little fazed by its heavy recent issuance.

Thai Beverage is planning to spin off and list its brewery business in a deal that could raise up to $2.5bn, according to a source familiar with the matter.

South Korean credit card company Hyundai Card has put together a syndicate team for its IPO, which is expected to value the company at around $2bn.

A number of untested European companies have made their entrance to the international high yield bond market in the past two weeks as central banks fuel conditions that pamper repeat and new issuers alike, while driving investors into ever riskier assets in a hunt for yield. Karoliina Liimatainen reports.