Citi

Malaysian rubber gloves manufacturer Top Glove Corp has sealed a $310m loan, with robust support from banks making the deal 2.5 times covered.

The IPO of Dutch bank NIBC was due to be priced on Thursday evening at the bottom of its initial range, valuing the company at €1.28bn.

Kommunalbanken announced a two year dollar benchmark on Monday, coming on the heels of a strong week for dollar issuance.

Two new SRI corporate bonds were priced on Monday, but with very different results. Iberdrola’s green hybrid bond failed to tighten from initial price thoughts, while Danone’s debut social bond had to pay just 2bp of premium.

The IPO of Elkem, the Norwegian silicon producer and supplier being floated by ChemChina, priced on Wednesday at Nkr29 ($6.74) a share, the bottom of the expected range.

Baidu-backed video streaming platform iQiyi kicked off bookbuilding for its $2.38bn US listing on Monday and was covered quickly.

Côte d’Ivoire took combined books of €4.8bn for its milestone dual tranche 11 and 30 year euro bond on Thursday, with investors voicing relief that the issuer had not squeezed pricing too much from the initial talk.

HDFC Asset Management Co is set to kick off investor education for its India IPO, according to a banker working on the deal.

The going was heavy for dollar borrowers as investors demanded extra concessions amid poor performance as CVS Healthcare’s trade from the previous week appeared to re-price the market.

Financial institutions stretched the appetite of bond investors to breaking point this week, flooding the euro market with nearly €15bn of deals, which struggled to perform in secondary despite carrying large new issue concessions.

Corporate bond issuers who sold their deals earlier the week found execution much easier than those who came later in the week. Strong order books and single digit new issue premiums gave way to premiums of as much as 20bp and one deal having to be downsized.

UK media company WPP sold a dual tranche bond this week, following its own recent trend for issuing shorter tenors with its most recent euro issues.