Citi

Samsung SDI is paring its stake in sister firm Samsung C&T via an accelerated bookbuild worth up to W565.34bn ($458.23m), amid regulatory pressure on chaebols to unwind cross shareholdings.

All eyes in the European leveraged finance market are focused on Solera’s $3.9bn debt package, the only deal in play.

In a very low-key transaction, the Czech Republic’s Energetický a průmyslový Holding (EPH) will complete its €1.5bn loan refinancing in the coming days.

Bahrain’s decision to revive last week's cancelled bond sale was driven by reverse enquiry from investors who were unperturbed by the issuer’s new junk status, according to bankers on the deal.

The Singapore government’s investment arm Temasek Holdings ventured into the euro-denominated bond market for the first time this week with a dual tranche offering driven by reverse enquiry.

The Middle East has provided the only source of CEEMEA supply so far this week. Bahrain bounced back to hog the spotlight, returning to tap $600m of bonds less than a week after an unexpected Standard & Poor’s downgrade led the issuer to cancel a previous $750m attempt. Meanwhile, yet another Latin America sovereign came to the euro market.

The hidden depth of demand in Europe’s corporate bond market was made amply clear on Monday, when Vodafone trounced market expectations that it would issue a €3bn bond — itself a large and bullish transaction — by raising €6bn.

Bank of China Hong Kong sneaked in to the bond market on Tuesday with a triple-tranche dollar deal in the midst of several other well flagged competing transactions. But the Chinese lender raised a hefty $2bn, which bankers said proved that it is one of the strongest credits in the region.

Any fears that investors might be nervous about sterling bonds in the run-up to the UK’s referendum on European Union membership eased with a pair of deals on Tuesday.

NL Financial Investments, the Dutch state agency, has named bookrunners for the IPO of insurer ASR, having already chosen the global co-ordinators earlier this year.

Saipem’s unfortunate €3.5bn capital raise could have wide-ranging consequences for other firms desperately in need of fresh cash to weather the commodities downturn.

India’s National Thermal Power Corp (NTPC) ended an absence of more than a year from the international bond market this week with a tightly priced transaction that left little money on the table for investors.