Deutsche Bank

A burst of M&A announcements early this week from Danish national phone carrier TDC, auto parts maker ZF Friedrichshafen in Germany and French telecoms firm Orange lifted the mood in the western European loans market. But Orange's financing plans, which include hybrid bonds, show that deals may not always lead to loan mandates.

Alibaba Group’s mega IPO was always going to be a game changing deal. Nearly one year in the making, the $21.8bn listing has broken multiple records and put Chinese companies in the limelight. With its shares due to start trading on Friday, how the deal performs in secondary will affect equity markets far and wide, writes Rashmi Kumar.

After a summer of hand-wringing by investors over its high leverage, Bureau van Dijk has won out on its €845m loan, even managing to tighten the pricing on its euro tranche.

Indian state owned refiner Hindustan Petroleum Corp has opened a $300m financing into general syndication. An Indian lender has joined as MLA ahead of general launch, in addition to the five mandated lead arrangers and bookrunners,

Chong Hing Bank’s $300m additional tier one (AT1) bank capital issue is attracting plenty of attention from fixed income investors, with bids crossing the $500m mark just 90 minutes after books opened at 9am on September 18.

Industrial and Commercial Bank of China (ICBC) priced its Singapore and Taiwan dual listed offshore renminbi bond on Monday, September 15, with Taiwan investors in particular flocking to the deal.

Indonesian auto company Mitra Pinashika Mustika (MPM) priced its inaugural international bond last Friday, September 12. Offering diversification value and riding on the positive sentiment for Indonesia, the five year non call three issue pulled in an order book that was seven times subscribed.

Magyar Export-Import Bank is meeting investors in Europe and the US for a proposed bond. The Exim bank is returning to the market without a guarantee from the World Bank and bankers away from the trade expect it to be popular with investors.

China’s Datang Telecom Technology & Industry is meeting investors for what could be the borrower’s debut international bond. The state owned company is looking to make a Reg S issue in the dim sum market.

China’s Semiconductor Manufacturing International Corporation (SMIC) is looking to issue its inaugural international bond. The company will be meeting investors for a proposed Reg S/ 144A dollar issue.

Diageo, the UK alcoholic drinks group, was named by research firm CreditSights last week as one of the European consumer goods companies most exposed to risk from the Scottish independence referendum.

LVMH Moët Hennessy Louis Vuitton has a cachet in the bond market, as in its own field of luxury goods. An A+ rating is rare, and LVMH is an infrequent borrower. It can also rely on the enthusiastic support of French investors.