Deutsche Bank

Pakistan has started the roadshow for a benchmark dollar Reg S/144A sukuk — its first since 2005. Meetings start in the UAE on Monday 24, before heading to London and Singapore on Tuesday 25.

Bank of New Zealand and Rabobank sought to revive the senior unsecured market on Monday following a wobbly patch at the close of last week when syndicates pulled several deals. Both issuers took to the belly of the curve, BNZ looking for euros and Rabo dollars.

New Europe Property Investments (Nepi) is ploughing ahead with efforts to engage investors on a non-deal roadshow despite having postponed its euro-denominated bond offering after meetings held at the end of October.

The Export-Import Bank of Korea (Kexim) is set to raise Rmb1bn ($163m) from a dim sum that will be split between a three and a five year, according to bankers working on the trade.

Indian high yield issuers are really starting to make their presence felt with another two – Reliance Communications and Lodha Developers (LDPL) – planning to meet investors for what could be would be their debuts in the offshore dollar market.

The Islamic Republic of Pakistan is set to tap the offshore debt market for the second time this year and is meeting investors for a dollar sukuk, which could mark the end of the sovereign’s nine year absence from Islamic financing.

Thursday was a busy day for European investment grade corporate bonds, with €4.9bn issued in euros and sterling. But with a great deal of diversity of issuers, maturities and currencies, the market had more appetite for some than for others.

Alibaba amassed a whopping $55bn of orders from investors for its landmark $8bn deal which ranks as the biggest G3 bond from an Asian ex Japan issuer. But some investors opted to stay on the sidelines after pricing was tightened up to 27bp across the six tranches.

Veteran Chinese dealmaker Henry Cai is said to be considering leaving Deutsche Bank after four years with the firm.

Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing is progressing well, with the deal already receiving $750m worth of commitments, said a banker. Nine banks have committed so far and a handful more are expected to join before close.

Two US blue chips issued a combined €4.8bn of bonds a day apart this week, demonstrating the euro market's attractiveness to US issuers and its capacity to absorb large amounts of paper. Bankers expect more US companies to dive in soon, while the swap market remains favourable.

Deutsche Bank tapped into growing demand for yield pick up among Nordic investors on Wednesday, returning to the Swedish krona market for the first time since 2007.