Credit Suisse

Ascendas Real Estate Investment Trust (Reit) is looking to raise capital for a planned acquisition in Australia, wooing investors in the Singapore dollar hybrid market.

Chinese company Minsheng Financial Leasing has cut the size of its onshore loan to $150m, a move that has seen it reduce the tenor and save on pricing with its revamped deal.

The euro market’s strength over dollars is impelling public sector borrowers to line up the currency for rare or even debut visits — and there are strong signs this opportunity could last longer than earlier windows.

Symetis, the Swiss heart valves maker, cancelled its planned initial public offering in Zurich on Tuesday, blaming “adverse market conditions” for the decision.

The euro benchmark market is set to welcome a debut issuer this week, while a rare borrower in the currency was able to increase a syndication from its initial €500m target.

The leads on HM Sampoerna’s Rph20.8tr ($1.4bn) follow-on have told investors that the trade is covered across the price range, after the Indonesian unit of Philip Morris International attracted a slew of long-only investors.

British operator of cloud services Interoute Communications’ €590m secured notes braved a rough primary high yield market on September 25 and recovered this week from an initial hit in the secondary.

European banks have been the mainstay of the Samurai market over the last 12 months, and the market has repaid them with loyalty. When European markets were shut during the Greek crisis, Japan stayed open for familiar names, rewarding those who have made the effort to build relationships and a track record. Here, eight issuers and two banks describe their experience.

National Grid pulled off the rare trick on Thursday of issuing a convertible bond without any risk of diluting its shareholders, writes Jon Hay. The feat relies on an arbitrage that is only occasionally available, and has been accomplished just twice before in Europe in the last decade, bankers said.

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The European Union has just €1.2bn left of a €5.2bn funding plan for September and October, having raised €2bn with an eight year this week that many bankers praised as evidence of normalisation of the pricing process in euros.

Several public sector borrowers are tipped to come into a reopened dollar market next week — but some SSA bankers warned that conditions are still not at full strength.