Deutsche Bank

Technology firm Alibaba Group Holdings lodged its preliminary prospectus with the US Securities and Exchange Commission to great fanfare this week, as this much-hyped business moved a step closer to listing. However, key information on the IPO — such as how big it will be — remains in scarce supply, writes Rev Hui.

A two week silence in the dim sum market at the end of April was broken as a raft of issuers hit the screens this week. With new issues already at $6.8bn in 2014, CNH volumes are well on track for a record year. But the market is unlikely to see much diversification in issuers and deal structures, writes Isabella Zhong.

Beijing-based China CNR Corp started receiving bids for a HK$11.3bn ($1.46bn) IPO on Wednesday, offering its shares at a tidy discount to its closest comparables. Demand is expected to be high, so much so that bankers have taken the unusual move of asking the regulator to cap the retail clawback.

Bank of Beijing picks two for jumbo float — Qingdao Port tests waters for IPO — GF Securities dispels listing rumours

Swiss private bank Julius Baer is gearing up to sell its second ever tier one capital note, mandating banks on Thursday to organise a roadshow marketing a Swiss franc deal.

Santander is making a return to the additional tier one market for the second time in two months, getting in front of any potential surge in supply that may come from other banks, including Deutsche Bank, in the subordinated market in coming sessions.

Export-Import Bank of China (Chexim) stood out from competing supply on Wednesday when it priced a rare three tranche offshore renminbi bond. Dealers said that the recent high volumes of dim sum issuance had not affected pricing.

Demand for Latin American bonds continues to surprise the very people selling the debt as Brazilian pulp producer Fibria Celulose became the latest issuer to pounce for a tightly-priced new issue to fund a liability management.

Environmental sustainability consultancy ERM has cut 50bp off the margin of the $655m seven year first lien loan it is syndicating, with Deutsche Bank as arranger.

German ball bearing maker Schaeffler will decide on the tranche sizes of its new $2bn-equivalent loan after it has both received loan commitments and seen the order book for its €2bn high yield bond.

German insurer Wüerttembergische Lebensversicherung is set to price its second ever subordinated bond on Wednesday afternoon. Recent sub deals from insurers have attracted favourable responses from investors, a result of offering a more attractive yield than comparable bank paper.

London-based insurance company Aon and defunct French mortgage lender Caisse Centrale du Credit Immobilier de France (3CIF) are taking advantage of the recent undersupply in the FIG primary market to price senior deals, with 3CIF tapping the short end of the maturity curve and Aon going long.