Credit Suisse

The unusual financing structure that China National Chemical Corp (ChemChina) is using for its $43bn acquisition of Syngenta drew a varied response from banks in Europe this week. Some saw the non-recourse structure for $20bn of the debt as shielding lenders from exposure to ChemChina, while others did not.

A shocking February in which two proposed deals failed to emerge seems to have killed off the European high yield market. It still has its champions, who insist brighter things are in store, but there are plenty who doubt whether a reopening is in sight, writes Max Bower.

Coca-Cola HBC, the Swiss bottler of Coca-Cola, drew in enthusiastic investor demand for its €600m bond on Thursday, when it also announced that it would make a tender offer for outstanding notes.

The Eurodollar corporate bond market, in limbo for more than a year, coughed back into life today as Nestlé, its stalwart issuer, returned after a long absence for a modestly sized issue.

Mauser, the German industrial packaging producer, has priced its €100m incremental term loan in line with guidance.

Fomento Económico Mexicano (Femsa) has mandated three banks for its debut euro denominated bond, which it will roadshow next week around the European Central Bank policy meeting.

Union Medical Healthcare covered the institutional tranche of its HK$951m ($122m) IPO on the first day of bookbuilding, with the deal driven by orders from Asian accounts.

Argentina’s nearing return to international bond markets after more than 15 years away could drive the Province of Buenos Aires to get its bond funding out the way as soon as possible to avoid clashing with the up to $15bn of sovereign supply in the pipeline.

Steve Hellman, Credit Suisse’s chief executive officer for Russia and CIS, is leaving to pursue other opportunities outside the bank. The bank is promoting its regional private banking head to fill the seat.

Samsung SDI sold a W565.34bn ($457.0m) block in its sister company Samsung C&T on Thursday, taking advantage of strong demand to price the deal at the top of guidance.

Even though the Swiss franc/dollar cross currency swap has been trading in negative territory through January and February, Amgen, the US biotechnology company, made an impressive debut in Swiss francs this week with a seven year bond, the largest in the currency this year.

South Korean computer and mobile game developer Netmarble has shortlisted a trio of international banks and five local firms to lead its IPO, which could raise as much as W2tr ($1.6bn).