Citi

Aroundtown Property Holdings, the German residential and commercial property company, has abandoned its attempt to induce holders of its €450m pre-IPO convertible bond to convert the bonds to equity.

Two single-B credits launched in the European high yield market this week — Cirsa and Preem — taking April's tally to four. Only six single-B deals of at least €100m have been priced so far this year, with some observers expecting the stream to continue.

At a time when banks are desperate to lend to merger and acquisition deals, some key relationship banks have been reported missing from the $20bn loan for ChemChina’s takeover of Swiss seeds maker Syngenta. Robert Cooke and Elly Whittaker report.

Panama’s Global Bank eyes Asia liquidity — Indo Eximbank in $725m fundraising — Protelindo in bilateral talks

BOC Aviation has made a successful landing with a new 10 year bond in 144A format, shrugging off concerns over its ownership change after a planned IPO this year.

BoC Aviation attracted a horde of investors to its first 10 year bond in 144A format ahead of a planned IPO in Hong Kong. While the proposed listing caused concern among some investors about the company's ownership, bankers on the deal say that the notes’ primary and secondary performance indicates they were in a minority. .

Buzzi Unicem, the BB+ rated Italian cement and concrete group, on Wednesday issued €500m of seven year notes with minimal support from high yield funds.

Forterra and Mediawan have closed and completed their IPO bookbuilds this afternoon, though Forterra’s will be priced at the bottom end of the range.

Heineken launched a 10 year bond today, almost immediately after publishing its first quarter results, and ended up increasing the deal to €800m on strong demand.

The Export-Import Bank of China (Chexim) attracted high quality non-Chinese bidders for its dual currency, triple tranche offering this week. The response shows that demand remains high for mainland credits despite concerns about the country’s growth.

Five lenders have opened into syndication a $1.5bn loan for Tencent Asset Management, the investment arm of Chinese technology firm Tencent Holdings.

Bond investors woke up to a pair of investment grade Asian issuers on Wednesday with the government of Malaysia seeking bids for a dual-tranche wakala sukuk and BoC Aviation looking to close a conventional 10 year.