Commerzbank

South Korea’s Woori Bank is expected to bring a dollar-denominated Basel III additional tier one bond to the market as early as September after its plans were abruptly put on hold in April due to a proposed changes in rules.

Otto, the unrated German online retailer, issued a €250m bond on Friday, which a banker on it said showed the resilience of demand by private wealth management-type investors, on a day when a more conventional, institutionally driven investment grade deal might have struggled as those investors watched screens turn red.

NordLB’s Luxembourg subsidiary issued its longest maturity covered bond on Tuesday and paid a paltry premium, but the double digit pick-up failed to draw much excess demand.

Cades more than doubled its minimum size target for a euro benchmark tap on Thursday, as the European Investment Bank also printed a large euro tap.

RPC Group, the UK plastic bottle manufacturer, has amended its £770m revolving credit facility agreement to include a £70m facility, which will part fund its acquisition of British Polythene Industries.

The Luxembourg-based producer of roof products, Braas Monier, proved there is still strong investor demand for double-B rated paper in the high yield market as it tightened pricing from guidance on Wednesday.

German housing company Vonovia on Monday demonstrated that issuer friendly deals were still available without having the European Central Bank as a buyer, printing a €1bn dual tranche bond with satisfying concessions.

Air Liquide began the first stage of refinancing a €12bn bridge loan backing its acquisition of US competitor Airgas by issuing a €3bn five tranche bond on Monday.

Turkish banks Halkbank and Turkiye Sinai Kalkinma Bankasi are refinancing one year loans and offering a premium to lenders committing in dollars.

Veneto Banca’s IPO bookbuild will begin on June 8, but hopes of it achieving its flotation in Milan are dim. “At the bottom of the price range, there are cheaper Italian banks,” said one banker on the deal, encapsulating the problem.

Guarantor: Federal Republic of Germany

Banca Popolare di Milano and Banco Sabadell issued covered bonds which, despite their negligible new issue concessions, met with exceptionally strong demand.