Deutsche Bank

Syndication for the refinancing of $1.235bn of loans for commodity trader Gunvor has closed, with lenders making “significantly oversubscribed” commitments, while competitor Trafigura faces a €2bn maturity this month.

Nine banks have been mandated to arrange the financing for the leveraged buyout of Polish online marketplace Allegro, and a senior loan will be launched into syndication later this month.

Europe’s largest laboratory services company, Synlab, on Friday shot a new bond into the European high yield market deal to repay all of its 2022 floating rate notes.

China’s Huishang Bank Corp sealed a lucky $888m additional tier one transaction on Thursday. The deal was not only the Chinese lender’s inaugural dollar-denominated AT1 but also the first from a city commercial bank in the country.

Caja Rural Navarra is planning the first green covered bond of the year. It follows a trio of covered bonds issued by Australian banks and the first transaction to be issued from Nordea in more than a year.

This was the week high yield borrowers in sterling came out of the Brexit shadows to face a market ridden with political tensions — what they found was hungry, but sober, investors.

Standard Chartered rocked assumptions about old style capital instruments this week when it said it would not call its legacy capital deal. Issuers with similarly structured bonds may not want to ignore the economic benefits of the UK bank’s decision and the likely consequences for future additional tier one issuance. Tyler Davies reports.

Hydropower firm China Yangtze Power Co debuted in the equity-linked bond market this week, raising $521.9m with a dual currency exchangeable bond — a product rarely seen in Asia. The liquid nature of the underlying stock and the credit quality of the issuer helped reel in demand, writes Jonathan Breen.

Softer markets caught Central China Real Estate off guard this week, with the leads forced to increase pricing after launch to get its deal away. The deal highlights a shift in pricing for high yield property developers at a time when supply is set to increase, writes Addison Gong.

China’s Huishang Bank Corp rolled out its inaugural dollar-denominated additional tier one bond on Thursday, the first from a city commercial bank in the country.

Statoil broke out of the stupour of public holidays on Wednesday with a dual tranche offering that kept up investors’ supply of 20 year paper.

On Wednesday, UK financial software firm Misys pulled the $1.5bn refinancing it had been marketing as part of its planned IPO, having dropped the share sale last week.