Citi

South Africa's Steinhoff has agreed to buy UK discount retailer Poundland in a £597m deal, with Crédit Agricole one of two banks underwriting the loan financing. The French bank also benefited from Steinhoff’s thwarted bid for Darty earlier this year, when it co-underwrote a facility for rival bidder Fnac.

UniCredit has dominated the headlines again this week, but this time for a better reason. Italy’s largest bank has also been its biggest loser of shareholder value, its shares falling 75% since last summer, as investors have lost trust in the sector.

Shandong International Trust Corp, which is planning a $300m Hong Kong listing, is set to ask for approval for the deal in September, according to a source familiar with matter.

The first corporate bond new issue has been priced in euros at a negative yield. Deutsche Bahn raised €350m of five year debt on Wednesday with a 0% coupon, at a yield of -0.006%.

ONGC Videsh is ready to return to the dollar debt market after a hiatus of two years, mandating banks for a potential offering on Wednesday.

Pricing details have emerged on a five year fundraising by Indonesian state-owned oil company Pertamina.

South Korea’s KT Corp won over investors for 10 year paper on Tuesday, despite recent sharp movements in Treasury yields, as the borrower’s rarity value and industry strength proved attractive.

Chinese logistics firm ZTO Express is seeking approval for an IPO in the US that could raise up to $2bn, according to a source familiar with the matter.

Adler Real Estate completed the accelerated bookbuild of its highly unusual convertible bond-cum-rights issue on Monday, raising €131m after a tough sale that it had hoped would fetch €150m.

Agence Française de Développement looked set to become only the second borrower to emerge with a euro benchmark since the UK’s Brexit vote after announcing plans for a new 10 year on Tuesday.

The European Stability Mechanism reopened the euro benchmark markets for SSA borrowers on Tuesday with a €5bn dual tranche deal.

KfW paved the way for a slew of dollar mandates from SSA borrowers on Tuesday with a $5bn new issue.