Credit Suisse

The result of October’s presidential elections in Argentina, which bond investors believe will lead to a return to capital markets for the sovereign, remain wide open after Sunday’s primary elections, said economists and analysts.

One bank has sent out invitations for a $200m refinancing being raised by Indian travel company Cox & Kings, according to two sources.

Royal Bank of Scotland’s painful restructuring was rewarded by the capital markets this week as investors swarmed all over an equity block and threw $26bn at the state owned lender’s debut additional tier one bond.

Credit Suisse has moved fast to appoint a director in high yield sales at its London office after the retirement from the business of long-serving Emma Balaam.

Filipino property firm DM Wenceslao and Associates Inc has filed for a listing to raise $200m, in a deal led by BPI Capital, Citic CLSA Securities, Deutsche Bank and Maybank. The float is expected to go live in the fourth quarter of this year, say bankers.

Lufthansa succeeded on the third attempt at its debut hybrid deal on Tuesday, shrugging off any fears of sleepy summer markets by gathering a more than three times subscribed book for the trade.

China Auto Rental (CAR) pulled off a second successful foray in the US dollar bond market, raising $300m after tightening pricing by nearly 40bp on the back of strong demand.

Lufthansa is set to make a third attempt at its debut hybrid bond, mandating banks on Monday for a deal that could be priced as soon as Tuesday.

Greentown China Holdings successfully persuaded bondholders of its two existing dollar notes into a new $500m five year non call three dollar bond on July 31. Bankers on the deal say the exchange offer ended up satisfying both the issuer and investors.

Investors could not get enough of India’s Syngene International as a more than 32x covered book helped propel the biotech firm to price its Rp5.5bn ($86m) IPO at the top of its indicative price range.

Asia’s US dollar bond market has started the week with a bang, with China Auto Rental (CAR), Peking University Founder Group and Shanghai Electric opening books for their respective transactions on Monday, August 3.

Greentown China Holdings has opened books to a new five year non call three dollar bond on July 31 following the end of an exchange offer plus consent solicitation exercise a day earlier.