Citi

Metallurgical Corporation of China and BOC Aviation found strong investor support for their bonds on Monday, with the former bagging Asia’s first senior perpetual bond in more than a month and the latter walking away with an over six times covered transaction.

Summit Power International’s hopes to be the first Bangladeshi issuer to list in Singapore have fizzled out after its $260m IPO was withdrawn.

Bookrunners revealed more than €3bn of new speculative grade deals from seven issuers in the European high yield market this week. Coupons are slowly widening in the primary market, but they are still hitting issuers’ pricing targets, said market participants.

A flash of public sector SRI bond issuance last week heated up on Monday, as Nederlandse Waterschapsbank found a strong reception for an affordable housing bond and Nordic Investment Bank prepared an environmental offering in a tenor that bankers said was attracting strong demand.

Capita, the UK outsourcing company, launched its £701m ($976.13m) rights issue before the market opened on Monday, in a bid to turn its fortunes around and de-lever its balance sheet.

Two corporate issuers are meeting investors for euro denominated bonds this week as the corporate funding season gathers pace.

State-owned Punjab National Bank has appointed three firms to lead the IPO of its life insurance arm in India later this year, according to sources close to the deal.

BOC Aviation, Metallurgical Corporation of China (MCC) and Bumi Serpong Damai were the first out of the gates on Monday morning with their new bond deals, as the Asian debt market prepares for an onslaught of supply.

Ping An Healthcare and Technology has kicked off a highly-anticipated HK$8.8bn ($1.1bn) IPO, set to be one of Hong Kong’s biggest from the new economy sector this year.

UK pharmaceutical firm GlaxoSmithKline has closed syndication on $13bn-equivalent of bridge loans to finance its purchase of Novartis’s stake in the two firms' consumer healthcare joint venture.

Philippine National Bank, a rare credit in the offshore bond market, raised $300m from a new transaction on Thursday. But despite the novelty value of its deal, investors still demanded a new issue premium.

Analysts saw early signs of MiFID-driven consolidation when US banks published their first quarter results that included strong equity trading performances across the board.