Deutsche Bank

Argentine lender Banco de Galicia y Buenos Aires will begin meeting investors next week ahead of a proposed Basel III compliant tier two bond issue that would be the first of its kind from the country.

India’s HT Global IT Solutions Holdings is set to give a lift to the Asian high yield market, launching a $300m deal on Thursday with price guidance set at a hefty 7.625% area.

It was a rough day for stocks on Wednesday, but a great day for equity capital markets, with two convertible bonds launched and priced — the first since the UK’s vote to quit the European Union was revealed on June 24. They came on top of a roaring reception for Melrose Industries’ announcement of a £1.7bn rights issue for an acquisition in the US.

Melrose Industries, the UK company that aims to buy, improve and sell underperforming industrial businesses, will conduct a heavily dilutive £1.655bn rights issue, cheering equity capital markets bankers who had feared months of weak activity, especially in the UK, after the shock of the Brexit referendum.

Chinese state-owned Beijing Capital (Hong Kong) has refinanced a $180m one year bridge loan signed last year.

Slovenian Sovereign Holdings (SSH), which manages Slovenian state assets, has postponed marketing for the IPO of Nova Ljubljanska banka, the country's largest bank, citing market turbulence surrounding the UK’s vote to leave the European Union.

A pair of public sector borrowers on Monday joined the handful of issuers that have sold well subscribed taps since the UK voted on June 23 to leave the European Union. But there are growing hopes that the first new issue since Brexit could happen this week — in euros, at least.

Chinese tutoring service provider TAL Education has raised $400m from its maiden syndicated loan, doubling the deal from the launch size of $200m after receiving ample support from domestic banks.

British American Tobacco and Brown Forman gave the sterling corporate bond market a much needed boost on Thursday as both brought benchmark transactions to enthusiastic investors.

Two of the five US subsidiaries of European banks under the Federal Reserve’s supervision failed the regulator’s stress test this week, despite having some of the highest common equity tier one ratios under the Fed’s worst case scenario. The banks, mostly with US headquarters, that passed largely plan to increase dividends and buybacks

Sandvik, one of the last Nordic borrowers to refinance as the regional holidays kick off, this week signed a Skr9bn-equivalent credit facility with two banks leaving the syndicate.

China’s DFZQ, also known as Orient Securities Co, and China Development Bank Financial Leasing Co have raised a combined HK$14bn ($1.8bn) after pricing their IPOs towards the low end of guidance, according to sources close to the deals.