Deutsche Bank

Alibaba was due to price its landmark bond in the early hours of Friday having launched final price guidance after Asian markets closed the night before. Bankers were staying tight lipped but investors said the deal could easily reach $10bn though debate was divided about what is fair value, write Lorraine Cushnie and Narae Kim.

Metinvest has extended the deadline to accept the proposed bond exchange offer for its $500m 10.25% 2015s to 24 November. Bondholders of 76% of the notes have already accepted the offer.

New York-listed Autohome, an online platform for car consumers, has wrapped up its follow-on offering of $361.25m. The deal received a positive reaction from the market, with the Chinese company’s stock climbing on the last day of bookbuilding — after having declined 7.7% since launch.

Chongqing Yufu Assets Management managed to raise Rmb500m ($81m) through its debut bond in offshore renminbi on November 19 but struggled to get investor attention amid a raft of competing supply. As well as being its first outing in the international bond market it is also the first offshore issue from the Chongqing state-owned enterprise.

Investors showed they were keen to get exposure to the India story, with orders flooding in for NTPC’s 10 year outing on November 19. US investors in particular, made up a good chunk of the book for the Reg S bond from India’s largest power generation company, which offered some much needed diversity away from China.

IBM launched an opportunistic euro bond issue on Wednesday, taking advantage of strong market conditions to sell €1bn of 8.5 year bonds with a minimal new issue premium - and according to one banker, much tighter than its dollar curve.

AstraZeneca, the Anglo-Swedish pharmaceutical company, priced a €750m seven year bond on Wednesday. It was four times oversubscribed and priced somewhere near the middle of the broad range suggested by the bonds of its peers.

The European Bank for Reconstruction and Development attracted orders of about $1bn to a five year global on Wednesday afternoon, GlobalCapital understands, and priced the deal in line with initial price thoughts. The deal contrasts sharply with a 10 year from the World Bank a day before that was oversubscribed by more than $1bn and was priced at the tight end of guidance.

Fresenius Medical Care, the US subsidiary of Fresenius SE, is closing books on a $4.2bn refinancing loan today, offering margins at a level more familiar to investment grade borrowers than double-B credits like Fresenius.

Publicis Groupe’s $3.5bn loan for acquisition of Sapient will have 10 relationship banks, led by Citigroup. Some banks with which Publicis previously had a banking relationship with are missing from the list.

Numericable completed its €4.7bn capital increase this week, bringing to an end the financing for the French cable operator’s acquisition of SFR.

Bahrain’s sovereign wealth fund Mumtalakat priced a seven year debut sukuk on Tuesday, which debt bankers said came flat to or even inside the sovereign curve. They put this down to credit quality, scarcity value and exceptional liquidity in the Middle East. But they felt that the additional rarity of the sukuk format was also a contributing factor, which other potential issuers should do well to note.