Credit Suisse

After selling €4.6bn of loans in March, Unilever Spreads unveiled the €1bn high yield bond portion of its leveraged buyout funding package on Wednesday. But as well as jumbo deals, other borrowers with smaller offerings are also vying for investor attention.

Digital advertising firm Yell added a new sub-benchmark deal to an otherwise lacklustre sterling high yield bond pipeline this week. The market is lagging more than £1bn ($1.4bn) behind 2017’s first quarter volumes.

Swiss franc bond market players are conflicted about the substantial slide in the Swiss franc, which has lost about 3.5% of its value against both the euro and dollar in the past two months.

Indonesian issuers continued to keep the market focused on new equity fundraisings, as several IPOs launched this week.

Vietnamese real estate developer No Va Land Investment Group brought a $310m convertible bond and a top-up share placement to the market this week, a combination rarely seen in the region. It capitalised on the rising interest in Vietnam, as the country hosts two record-breaking IPOs, writes Jonathan Breen.

Bank of America Merrill Lynch, Credit Suisse, Nomura and UBS have made senior changes in their equity capital markets and syndicate teams in Asia.

Vietnamese conglomerate Vingroup Joint Stock Company is seeking a $400m loan for its newly established car manufacturing business.

Several Chinese real estate companies, including Sunac China Holdings and Central China Real Estate, took advantage of relatively stable markets to ride the dollar issuance momentum this week. But supply pressure meant that many saw their bonds then trade under water.

The EMEA IPO market is fully underway again after the Easter break, with bankers fresh from the Courchevel ski slopes or St Tropez sunbeds to provide investors with some fresh IPO powder. But high volumes means buyers have the ability to be selective.

Medikaloka Hermina has hit screens for an IPO in Indonesia to raise up to Rph2.6tr ($193m) in primary and secondary proceeds.

Virginia-based GTT Communications launched a €1.7bn-equivalent package of leveraged loans this week, the first leg of funding for the acquisition of UK peer Interoute. The credits are well known, bankers said, but European investors have become more circumspect after overcoming a recent bout of volatility.

German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared.