Deutsche Bank

The Asian ex-Japan high yield bond market received a boost on Wednesday with Samvardhana Motherson Automotive Systems Group and Xuzhou Economic and Technology Development Zone State-Owned Assets Management (Xuzhou ETDZ) opening books for their dollar debuts.

Basic-Fit, the low cost gym group, is expected to issue revised price guidance for its IPO in the next 24 hours.

Price guidance is expected imminently on the IPO of insurance company ASR Nederland, which is closing on Thursday and looks set be the biggest in the current spate of Dutch equity capital markets deals, beating last month’s listing of Philips Lighting.

The 10 year Bund yield hit a record intraday low on Tuesday, as a German region increased a deal size and a French agency lined up an unconventional eight year deal.

A trio of issuers have lined up short end dollar deals for pricing on Wednesday. Some bankers said the focus on threes and fives was in response to poor US jobs data last week, although that view was not universal.

The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond at 25bp inside guidance levels — giving encouragement to the group of other issuers waiting in the pipeline.

Indonesia returned to euro-denominated bonds on Tuesday. It will still have to pay up over its dollar curve, according to EM bankers, despite the low yields in euros.

Citigroup has hired an equity capital markets banker from Deutsche Bank to help its business in the German-speaking region.

Ireland's largest fibre network operator, Eircom Holdings, on Monday brought a rare offering from the telecoms industry to the high yield market.

Allnex, the Brussels-headquartered coating resins business, has allocated its €730m cov-lite seven year term loan after transferring €30m to the dollar tranche and further increasing it.

Mexican real estate company Grupo GICSA is to meet investors this week ahead of a planned $300m debut 144A/Reg S unsecured bond issue.

GlobalCapital is delighted to announce the winners of its Americas Derivatives Awards for 2016. The results were revealed at a gala dinner at New York’s Metropolitan Club on June 2. Thank you to everyone who supported the event by attending and for taking part in the pitches that decided who were the best and brightest in US, Canadian and Latin American derivatives over the last 12 months.