Deutsche Bank

Arion Banki's planned euro bond sale — the first such deal from an Icelandic institution since the credit crisis — has got market participants speculating where the deal will price, with some arguing that demanding UK investors will push the spread to 350bp over mid-swaps.

German ball bearing maker Schaeffler is holding a lender call on Thursday to market about $2bn of transatlantic loans.

UK investors are likely to determine the pricing on Arion's upcoming euro deal, according to market participants.

Weibo Corp was forced to price its $286m Nasdaq IPO at the bottom of the range on April 16 after it bore the full brunt of investors' waning confidence in the China tech story. But after a strong trading debut which saw the stock rally 17.9%, more of its industry peers are trying their luck in the US.

Tencent printed the largest ever dollar bond for an Asian technology company on Tuesday night, and the $2.5bn three and five year dual tranche transaction was more than five times subscribed. A ratings upgrade since its last outing ensured the issuer received a good response from the US and allowed it to price comfortably inside its curve.

Vista Land & Lifescapes priced the first corporate dollar bond from the Philippines this year after closing a tender offer. Despite continued strong domestic demand for its name, the issuer took the opportunity to distribute its new bond to a more international investor base.

China National Offshore Oil Corporation printed a $4bn triple-tranche bond on Wednesday night with investors flocking to the 10 year portion, which attracted a $9.4bn final order book.

Price guidance for Latvia’s euro benchmark 10 has been tightened to 125bp over mid-swaps, in a move widely expected after a generous starting position. Two bankers away from the deal had said they expected to see tightening from the initial 135bp starting number before the Reg S note was priced later on Thursday.

Numericable and Altice pulled off a funding coup this week with a €16bn synchronised high yield bond and leveraged loan deal to back their takeover of French mobile phone operator SFR, which is still months away from closing, writes Olivier Holmey.

PepsiCo, the US soft drinks and snacks group, sold its first bond in a continental European currency for 18 years today, with a seven and 12 year euro bond that was capped at €1bn.

Constellium, the aluminium products company spun out of Rio Tinto in 2011, has announced a roadshow for a €590m-equivalent high yield bond issue, and also aims to obtain a €120m loan.

Bauer Group, the German industrial equipment manufacturer, has signed a €450m syndicated credit facility to refinance nearly all its short term debt.