Goldman Sachs

State Grid Corp of China is set to go on the road next week to gauge interest for a dual-currency bond, as it seeks to raise funds in dollars and euros.

A flotilla of IPOs reached harbour safely this week, through waters calmed by the European Central Bank’s quantitative easing medicine, and whatever other magical ingredient has made financial professionals feel so much better since Easter. But one debutant tripped up and another IPO was pulled.

The European leveraged loan market is finally starting to open up after a torrid few months, with a fast flow of deals and keen thirst for risk, writes Max Bower.

Chinese paediatric nutrition company Biostime International Holdings has put into motion an $845m loan package to refinance debt.

China Petroleum & Chemical Corp (Sinopec) made a comeback to the bond market this week with a $3bn four-tranche deal. But in a step away from its previous outings, the oil and gas giant opted for price over size.

BOC Aviation started gauging investor appetite this week for its $2bn IPO in Hong Kong, with books set to open in mid-May.

Tuesday and Wednesday brought a pair of private equity block trades following first quarter results, but nothing to match the fireworks of Monday night, when Credit Suisse placed £1bn of stock in SABMiller for Kulczyk Investments at a 0.88% discount.

London & Quadrant Housing Trust rode the waves of strong demand for corporate sterling paper on Wednesday as it achieved a minimal new issue premium for a bond that was over three times oversubscribed.

Belgium is set to bring a private dabbling in ultra-long debt issuance into the public sphere, as it mandated on Wednesday for a debut 50 year euro benchmark a week after placing its second 100 year medium term note.

Travelodge Hotels, the UK budget hotel chain, on Tuesday began marketing a £360m two tranche bond, its debut issue, in a European high yield market still eager for confirmation that deal flow will pick up in the coming weeks.

Books for Turkiye Cumhuriyeti Ziraat Bankasi’s $500m bond closed with books over $2bn on Monday and the bank paying only a 10bp new issue premium for the note, according to a lead manager.

LCH, the clearing house operator, has made two senior executive appointments.