Citi

Korea Expressway Corporation, China Travel Service (CTS) and Tewoo Group are all out in the market with new dollar bonds. The Korean government related issuer (GRI) was last seen in April this year and adds to a relatively busy month for Korean issuers. CTS, on the other hand, has not been in the market since 1996.

Government-owned Chilean oil company Empresa Nacional de Petróleo (Enap) could make it four new issues in four business days for Chilean corporates on Monday after E-CL ensured LatAm bond markets ended the week on a high with its long-awaited new issue on Friday.

Mexico IT infrastructure company SixSigma Networks Mexico (Kio) will spend this week meeting bond investors ahead of a potential debut international bond issue.

Korea Electric Power Corp (Kepco) has raised W855.6bn ($808m) by selling all its treasury shares via a block trade on October 23. Priced just above the lower end of the price range, the deal resonated well with international investors, with demand from them alone taking books to around three times covered.

Chinese broker Citic Securities Company tapped the offshore market with a dollar bond on October 23 that was drawn from a $3bn MTN programme. Even though it coincided with a slew of other transactions, the issuer still managed to get a good result, pricing through its closest comparable.

Tata Motors (TML) delivered a top quality drive-by bond on Thursday. Not only did the 5.5 year offering prove so popular that 317 investors were biting the issuer's arm off to get an allocation, but TML was also able to meet a price target that bankers said was demanding, as well as extend its maturity profile by issuing an additional last-minute 10 year bond.

Arkema, the French chemicals company, launched its hybrid bond issue successfully on Thursday, having decided to press ahead with the deal despite market conditions that are much less favourable for higher risk deals than in September.

Arkema, the French chemicals company, launched its hybrid bond issue successfully on Thursday, having decided to press ahead with the deal despite market conditions that are much less favourable for higher risk deals than in September.

Husqvarna, the Swedish gardening equipment maker, has extended its syndicated revolving credit facility for another five years and reduced the amount from Skr6bn (€650m) to Skr5bn, according to its third quarter financial report.

Internationally syndicated Turkish corporate loans are rare, but this week has seen three push deals forward. Cake maker Ulker launched its loan into syndication on Monday, Turk Telekom subsidiary Avea completed a club loan and Yildiz dairy subsidiary Ak Gida is in the final stages of syndicating an Islamic loan.

Germany’s Fresenius Medical Care launched a $900m high yield bond issue in the US market on Wednesday, via Wells Fargo, Citigroup, Deutsche Bank, Scotia Bank, HSBC and Suntrust Robinson Humphrey.

Spain’s capital market boom is being undermined by the return of local lenders, but international banks are well placed to capture a bulging M&A pipeline, writes David Rothnie.