Citi

One of the busiest days ever in the public sector dollar market ended with five issuers sitting on deals printed at the top end of their size targets and with pricing tightened from initial thoughts. Another borrower is already out for Thursday business and bankers predict that conditions are so “incredible” that deal flow will stay healthy into next week — no matter what policy statements incoming US president Donald Trump makes at his inauguration on Friday.

UK cable and mobile operator Virgin Media on Wednesday plugged its refinancing bond offering into the sterling market on Wednesday, raising total potential sterling high yield bond sales to near £1.7bn so far this year.

British American Tobacco’s acquisition of US rival Reynolds American will trigger other merger talks across the tobacco industry, loan bankers believe.

Malaysian conglomerate Genting Group raised $1bn from its inaugural dollar bond, issued through subsidiary Genting Overseas Holding Company (GOHL).

State Bank of India wrapped up Asia ex-Japan's first dollar bank issuance of the year while navigating a crowded primary market this week, snapping up $500m from a senior five year.

Hong Kong's United Photovoltaics and Chinese issuers Reward Science and Technology Industry Group Co, Beijing Capital Group and Yuzhou Properties Company all launched new dollar transactions Wednesday amid a flurry of pre-holiday issuance.

Citi has named Ian Campbell a managing director and head of DCM for Australia and New Zealand, according to a memo seen by GlobalCapital Asia.

The Republic of the Philippines launched a 25 year dollar transaction Wednesday morning, returning to the market for its regular start of the year deal.

The European Investment Bank plans to tap its May 2021 Polish zloty bond on Wednesday, after mandating banks for a deal on Tuesday.

The pipeline for euro issuance is filling up once again as the European Investment Bank looks to raise funds at 10 years, although a deal from KfW on Tuesday appeared to struggle to reach €1bn.

Paper packaging maker Smurfit Kappa launched a drive by benchmark euro offering on Tuesday, as it looks to refinance existing securitisation facilities.

Belgium hit a landmark on Tuesday, printing its biggest deal ever with a 10 year benchmark. Scoring a more modest €1bn, African Development Bank's second ever euro syndication also met with a warm reception.