Deutsche Bank

Polish corporate Synthos has taken a hit in the secondary market and is trading two and a quarter cash points down from reoffer. Critics attacked the deal execution and warned that the trade may hurt future Polish corporates wanting to access the market. But bankers on the deal defended the sale and said the issuer had set a very ambitious price target.

Pelabuhan Indonesia II’s $1bn five year loan, which has been in gestation since May, is expected to launch in the next few days, said bankers.

China’s Bank of Communications (BoCom) has followed its landmark offshore tier two bond with another €500m ($634m) offering a day later, on September 25. But the euro denominated transaction proved to be less popular than its dollar counterpart.

Malaysia’s RHB Bank returned to the dollar bond market by pricing a $300m five year on September 29 following a two year absence. The decision to tap the market during a volatile week was a surprise to many, but the bank was still able to meet its aggressive target.

Five lenders have committed to join Indian company Rural Electrification Corp’s $170m loan. The transaction is the greenshoe portion of a larger borrowing. Funds for the original $230m have already been provided by the six bookrunners and mandated lead arrangers, which are syndicating the greenshoe on a best efforts basis.

China's Semiconductor Manufacturing International made its debut in the dollar bond market on September 25, raising $500m with a Reg S/144A five year issue.

WMF, the German kitchenware producer, is widening pricing on its €615m leveraged acquisition loan, becoming the latest in a run of borrowers to do so this September.

Malaysian lender RHB Bank is back in the dollar market following a two year absence, opening books to a $300m bond on September 29.

China’s Bank of Communications (BoCom) has followed its landmark offshore tier two dollar bond with a €500m offering a day later. BoCom is the first Chinese bank to issue Basel III debt without the use of an offshore subsidiary.

Beijing Jingneng Clean Energy Company raised HK$1.3bn ($168m) from a private placement of shares on Thursday night, in a deal sold to just 10 investors after a wall-crossing process that lasted two days.

Huatai Securities made its inaugural dollar issue on Thursday, September 25, selling a $400m credit enhanced five year bond. Despite less than ideal market conditions, the borrower’s decision to follow in the footsteps of other Chinese financial names that have debuted with a standby letter of credit (SBLC) backed structure helped it to gain a strong following.

The expected wave of merger and acquisition financings broke on the US corporate bond market this week, as Roche and Sysco made triumphant returns while Suntory Holdings issued its first US bond.