Citi

Spain has picked banks for its second deal of the year, looking towards the long end of the curve for the first time since May 2016.

Oleg Deripaska is to step down from his role as president of EN+, the Russian aluminium and hydropower company, which floated for $1.5bn in London and Moscow in November, and as president of its affiliate Rusal, as part of a pre-planned organisational change in which he will shift focus to other business interests.

Slovakia’s largest distribution operator Západoslovenská energetika (ZSE) has named two banks to arrange a new euro deal of a medium maturity.

Daimler led three corporate dollar issuers on Thursday as the market stabilised and high grade credits showed their resilience after a stop-start week.

Three new issues from the CEEMEA market this week marked the end of the heyday of easy money for emerging market bonds, as EM bond fund outflows were on track to hit their highest level since those prompted by the election of US president Donald Trump in 2016. Francesca Young reports.

US chip maker Broadcom has received commitments for a staggering $100bn funding package for its acquisition of technology company Qualcomm, with the companies meeting for the first time a few days after the record financing was announced.

The Federal Republic of Nigeria has released price guidance for its dual tranche bond that rival syndicate bankers and investors are calling “exceptionally” cheap.

India's Idea Cellular opened books for a qualified institutional placement of up to Rp35bn ($547.4m) after getting final approval for the deal from its board of directors on Wednesday.

Ganfeng Lithium Co, the world’s largest producer of lithium metals, has filed a draft IPO prospectus with the Hong Kong Stock Exchange.

The Arab Republic of Egypt printed its $4bn triple tranche bond on Tuesday from a book that peaked at $12.5bn, despite another EM issuer — Russia's GTLK — having to postpone because of market volatility. A rival syndicate banker called the note cheap, but necessarily so.

The two Turkish IPOs priced this year are trading roughly in-line with their listing prices, despite recent outflows from emerging market ECM. But it is too early to judge whether this represents a positive outlook for Turkish ECM this year, according to sources.

The Arab Republic of Egypt is providing the first big test of the resilience of emerging market debt since last week's volatility with a triple tranche dollar bond. Bankers eyeing the trade say the book size, and amount of price revision, will be a real indicator of investor appetite for riskier EM debt now the shine has come off the market.