Citi

Three issuers, two of them US banks fresh from earnings releases, announced deals to a buoyant euro denominated senior unsecured market on Wednesday.

Gloomy prospects for global growth may have caused severe bout of volatility in the past week, but Colombia emphatically demonstrated the silver lining that the Treasury has provided borrowers. The sovereign tapped its 10 and 30 year benchmarks for $500m each on Tuesday as part of a pre-funding exercise during what the country’s debt management head described as a “spectacular” window for new issuance.

Turkish Development Bank Türkiye Sınai Kalkınma Bankası has tightened price guidance for its $350m five year bond to 387.5bp-400bp over mid-swaps. The bank released initial price thoughts for its debut at 400bp over mid-swaps earlier on Tuesday morning, having waited for a calmer market window since the end of its roadshow last week. Despite the tightening, one analyst still saw the pricing as generous.

IDBI Bank priced a five year dollar bond on Monday. While choppy markets saw the issuer pay some new issue premium, the borrower managed to take advantage of a lower rate window to price just wide of its curve.

Indonesian poultry feed producer Charoen Pokphand (CP) Indonesia’s $350m dual currency loan that comes with a $50m greenshoe, has entered general syndication.

Citi broke a hiatus in market activity on Monday to open books for the first fixed rate senior unsecured euro new issue of the month. A generous new issue premium allowed the issuer to rack up a large order book despite recent market volatility.

Hebei opens books for offshore debut China’s second largest steel maker, Hebei Iron & Steel Group, is looking to tap the offshore debt market for the first time, opening books to a credit enhanced dollar bond on October 20.

Bangkok Airways Public Company has raised Bt14.5bn ($446m) from its IPO by pricing the trade at the middle of the range, with weak market conditions at the time of bookbuilding leading to the selling shareholder offloading fewer shares than planned.

Chilean power company E-CL was set to announce a long awaited bond issue on Monday morning after capital markets showed signs of stability towards the end of last week. The outcome will be of particular interest to SQM, the Chilean chemical firm that announced its bond roadshow on Friday.

The mandated lead arranger and bookrunner group for Indonesian poultry feed producer Charoen Pokphand (CP) Indonesia’s $300m-$400m loan has been firmed up.

Chilean power company E-CL opted not to issue a planned bond on Thursday as LatAm DCM and syndicate bankers said they would be in no rush to issue during periods of volatility.

Conduct charges defined third quarter results at Bank of America, while Citi and JP Morgan also saw their numbers marred by litigation provisions or conduct failings. Only Goldman, of the first crop of US investment banks reporting this week, largely escaped a blow from past misdeeds.