Citi

South Korean steel company Posco checked every box for investors with its $500m bond issuance on Monday. Even though the deal offered no new issue premium and pricing was tightened aggressively, buy-side support did not waver, said bankers.

Do responsible investing, ESG and sustainable finance mean anything? If so, they must mean investors cannot buy Saudi Aramco’s IPO. When the world is desperately trying to cut carbon emissions, ploughing billions into a newly listed oil company is the definition of a backward step.

Citi is leading a $2.215bn dual currency PIK toggle issue for packaging company Ardagh, refinancing existing PIK and PIK toggle issues after the firm span out its metal packaging business — and making it easier to sell shares in the tightly held group to the market.

Averda International is preparing to issue a five year deal in the bond market this month, having extended a term loan facility in August.

Skandinaviska Enskilda Banken (SEB) got away without having to pay any sort of a premium for its debut non-preferred senior bond on Monday, despite having to compete for attention with Nordic peer OP Corporate Bank.

Cellnex, the Spanish telecommunications company, has closed the books on its cash call to fund its acquisition of Arqiva's tower business, attracting huge levels of demand for shares.

South Korean defence and information technology firm Hanwha Systems priced its IPO at the bottom of the range on Friday after a poor showing from investors at home and abroad, according to a source close to the deal.

US and Yankee banks returned to the dollar bond market in size this week, with JP Morgan looking to break a record with its pricing of preferred shares.

UBS lets go of ECM bankers — Bank of America’s Coben to return after Twitter investigation — Macquarie closes cash equities business in Europe and US

Dollar volumes proved higher than expected as the US investment grade market roared back to life following earnings blackouts, with a string of front-loaded deals ahead of the Fed’s meeting on Wednesday.

Banks are lining up to refinance additional tier one deals ahead of their call dates in 2020, after a string of deals this week proved that yields are teetering on record lows in the market.

The People’s Republic of China has caused a stir among DCM bankers in Asia and Europe with plans to return to the euro bond market for the first time since 2004. While expectations on opposite sides of the world are starkly different, what is clear is that the sovereign’s deal will be less about the pricing itself and more about making a statement. Addison Gong and Burhan Khadbai report.