Deutsche Bank

It has been mooted for years but investors are finally getting their first taste of covered bonds out of Singapore with the Lion City’s largest bank DBS opening books to a dollar offering on July 29.

Deutsche Bank has hired a credit index trader in London, reprising a business that it looked to have exited this year.

Africell, the Sub-Saharan-based telecommunications firm owned by Lebanon's Lintel Group, has signed a $150m syndicated loan with local and international lenders.

One of the two largest project finance loans in the Turkish pipeline has already been financed entirely by local banks, but there could be international lenders in a forthcoming motorway project.

China Merchants Holdings (International) Company has opened books on a dual tranche offering that could raise the firm as much as $700m.

China’s eHi Car Services and Tingyi Holding Corp will be on the road for investor meetings this week ahead of dollar and offshore renminbi (CNH) notes, respectively.

The Republic of Indonesia printed its second ever bond in euros on July 23 as it continues to expand its funding sources in a bid to diversify away from dollars. While the sovereign made a conscious decision to pay up to achieve its aim, market participants are split whether the cost of diversification was worth it.

Two Chinese issuers in the commodities sector – China Oilfield Services (COSL) and China Minmetals Corp – launched bookbuilding for dollar bonds on July 23. But there was little concern about the competition as the borrowers only looking to raise $1bn each and bankers were confident about the amount of liquidity in the market.

The European high yield market this week saw towering deals like SoftBank’s $4.5bn and Synlab’s €1.1bn, but investors also found a place in their portfolios for smaller notes.

Germany dominated covered bond supply this week with four banks raising €2.5bn after collecting orders of nearly €6bn in total.

Verallia, the French glass bottle maker, has accelerated the bookbuilding for a €1bn leveraged loan as investors have gobbled up the acquisition debt, asking for big tickets.

J Sainsbury, the UK supermarket chain, raised £500m of hybrid capital on Thursday with twin issues of a convertible bond and a regular hybrid bond.