Citi

Hella Hueck, the family-owned German car lighting and electronics maker, today (Friday) completed a preliminary sale of shares that will allow it to complete its IPO next week.

Kazmunaigas has tightened priced guidance for its dual tranche dollar bond and books are “well over $5bn”, according to an origination official on the deal.

Samsung SDS has priced its W1.2tr ($1.1bn) IPO at the top of the range with books heavily oversubscribed at close. The success of the trade has paved the way for the next big South Korean listing — that of Cheil Industries, which said on October 31 that it is looking to raise W1.52tr.

China Construction Bank International (Holdings) is in the market for a $100m three year loan with one mandated lead arranger and bookrunner.

The Indian high yield pipeline continues with JSW Steel which has announced roadshow dates for its inaugural international bond.

CVC and Blackstone’s block sale of £260m of Merlin Entertainments stock struggled to gather momentum on Wednesday evening, but support from long-only UK investors the following morning dragged the deal across the line just in time for start of trading.

The World Bank was busy in local currencies this week, printing its first deal in Mexican pesos this year and doubling the size of an 11 year Kangaroo bond.

Turkish consumer products company, Yasar Holdings, printed its $250m bond on Thursday evening from a book of $620m and well inside initial price thoughts. The success of the EM high yield deal — the first to be printed since the huge US volatility of a fortnight ago — bodes well for other corporates from the region roadshowing bonds.

The US investment grade corporate bond market barely blinked this week when the US Federal Reserve called time on quantitative easing. Companies hit the market ahead of what is expected to be a bumper November for new issuance.

The $500m five year, non-callable senior bond Jaguar Land Rover sold on Tuesday began trading up at 100.75, gathering investor interest in a market environment that “is only now becoming more stable”, said the company’s treasurer.

CVC and Blackstone’s sale of Merlin stock struggled to gather momentum on Wednesday evening, but support from long-only UK investors the following morning dragged the deal across the line just in time for start of trading.

Turkish consumer products company, Yasar Holdings has released price guidance at a yield of 9% to low 9% for a $250m 5.5 year non-call three bond. The high initial guidance drew attention from syndicate officials away from the deal who said that the note would serve as a test of investor appetite for EM high yield names.