Citi

J2 Acquisition Ltd, the latest cash shell vehicle of Martin Franklin, completed its London IPO on Thursday, raising $1.25bn for acquisitions in unspecified countries and sectors.

Rating: A2/A+/A

After several years financing in the domestic and Asian markets, Hungary turned its attention to the next stage of reducing its external liabilities this week, and was overwhelmed by the positive response to its dollar euro switch, György Barcza, chief executive of Hungary’s debt management agency (AKK), told GlobalCapital.

Pan-Africa lender Guaranty Trust Bank has bought back $123.1bn of its outstanding bonds, making it the second African bank to address its upcoming maturities. Nigeria’s Fidelity Bank is looking to issue fresh debt to finance a buy-back of its $300m 2018s.

Ireland has sold its first negative yielding bond, raising €4bn with a five year. The deal pulled in €10.1bn of orders, despite some trepidation over the developing situation between Catalonia and Spain.

Turkish oil refiner Tüpraş will start roadshowing a 10 year dollar bond on Friday, but the issuer’s links to Iran are expected to raise questions on the roadshow.

State-owned reinsurer General Insurance Corp of India has finalised the price range for its IPO, which will have a potential size of Rp113.7bn ($1.7bn).

Reliance Industries’ telecommunication arm Reliance Jio Infocomm is in talks with banks to refinance a two-tranche loan raised in late 2014.

Chinese micro-lender Qudian has launched bookbuilding for its IPO on the New York Stock Exchange, which could raise up to $825m, according to a banker close to the deal.

With 65m people displaced worldwide, the refugee crisis can seem insurmountable. But despite this daunting scale, initiatives are being tried that could help some of those affected. Citigroup’s charitable foundation is giving $2m to a project to train refugees for the job market and entrepreneurship, in Greece, Jordan and Nigeria.

The Hashemite Kingdom of Jordan served plenty of yield up to investors on Monday, proving that it is not just the double-A rated names which enjoy access to long dated funding in emerging market bonds. The deal traded up two cash points on Tuesday which drew a mixed response from market participants.

Abu Dhabi was on track on Tuesday morning to print the second blowout trade from the Gulf in a week following Saudi Arabia's $12.5bn sale last Wednesday. It was also able to drive pricing through Saudi Arabia’s secondary curve, having taken orders of $30bn.