Deutsche Bank

The Asian bond market is in full throttle this week with a flush of new issuance from mostly investment grade names. But the high yield sector was not to be outdone with Central China Real Estate printing a red hot $300m bond that was close to 12 times covered.

Panamanian lender Global Bank re-opened its 2019s for a further $150m on Tuesday as bankers said low new issue volumes were creating extremely friendly conditions for borrowers.

Industrial Bank of Korea (IBK) mandated six banks on Wednesday, April 15 to run its first outing to the dollar bond market in almost three years.

Moy Park, the UK poultry producer owned by the Brazilian food group Marfrig, sold a tap of its £200m debut high yield bond at 98.501 to yield 6.55% on Tuesday.

Of Monday night’s two other block trades, besides the sale of shares in Spire Healthcare, one went well and was increased, while the other – in Al Noor Hospitals, was not covered.

RWE, the German electricity and gas company, issued €1.25bn of hybrid bonds on Tuesday, which are expected to partly replace its €1.75bn hybrid issued in 2010 and to be callable in September.

Top Right, the UK information and events group owned by Apax, has allocated its £435m-equivalent refinancing loan with a small change to the deal’s dollar tranche.

Petróleos Mexicanos has tightened price guidance for its dual tranche euro bond as combined books for the seven and 10 year deals hit €5.25bn.

Singaporean property name Ascendas has made a tender offer to holders of its S$300m ($220m) 4.75% perpetual non call five subordinated bonds that were sold in 2012. A change of control triggered by a merger between the subsidiaries of Ascendas' parent company and government investment company Temasek has allowed Ascendas the option of redeeming the securities.

Central China Real Estate is looking to stand out in a crowded Asian bond market by offering investors a tasty price concession on its five year bond on April 14.

German printing equipment maker Heidelberger Druckmaschinen announced a €200m bond issue on Monday that is rated Caa1/CCC+.

Deutsche Bank is tonight trading a block of shares in Al Noor Hospitals, as Ithmar Capital seeks to sell its entire stake in the Abu Dhabi healthcare group.