Deutsche Bank

Enel, Italy's leading power company, announced on Wednesday that it would issue a benchmark 10 year bond in an exchange offer for up to €5.5bn of existing bonds, as part of a liability management exercise. The transaction is meant to extend Enel's maturity profile.

Export Import Bank of Korea (Kexim) staged a successful return to the international debt market on January 12, selling a SEC registered dual tranche deal that drew over $6bn of demand. Amid high levels of volatility since the start of the new year, bankers chose a good window for the Korean issuer, which achieved its goals for size and pricing.

South Korea’s Woori Bank raised smaller-than-expected $350m with its first dollar bond of 2015 on January 14. Due to the smaller order book size and slower bookbuilding process than usual, the South Korean lender had to settle for the lower end of what it aimed to raise, but has been enjoying a good performance in the secondary market.

Sunrise Communications Group, the Swiss telecom firm based in Zurich, intends to float on SIX Swiss Exchange in the first half of this year, as it joins the long list of issuers that have announced this week their intentions to float.

Liberty Global, the European cable investment group, laid out to lenders yesterday the terms of a complex refinancing process, which will combine the debt of two Dutch subsidiaries, UPC Netherlands and Ziggo, which are merging.

Dutch cable company Ziggo accelerated its €730m-equivalent dual currency bond and priced it today, after its sister company Virgin Media had yesterday priced tighter than guidance the first bond of a restructuring plan involving four Liberty Global cable subsidiaries.

Woori Bank opened books to its first dollar bond this year on Wednesday, January 14, as the South Korean lender was encouraged by the relatively successful outcomes of compatriot Export Import Bank of Korea (Kexim) earlier this week.

Integrated Diagnostics Holdings, an Egyptian company that offers diagnostic services and radiology in Egypt, Jordan and Sudan, began premarketing on Tuesday for a London IPO — the first by an Egyptian company since 2008.

Exact, the Dutch software company, has returned from a New York bank meeting for its $460m acquisition loan on Monday, to prepare for a London presentation to European investors who are usually more chary of the tech sector than their US peers.

Virgin Media expects its leverage to remain within levels set by its parent company Liberty Global, after it raised a £925m-equivalent bond to finance a merger with another subsidiary, UPC Ireland.

Pirelli, the Italian tyre maker, has revved up the year's loan market business with a €1bn facility signed last week, that the company said was three times oversubscribed.

Book sizes for Tuesday’s offerings of senior fixed rate deals have fallen sharply, compared to the unusually swollen orders placed for new issues in recent days, but the market is still steaming ahead.