HSBC

US medical equipment manufacturer Thermo Fisher Scientific on Monday issued its first public bond in euros, a €640m transaction maturing in April 2025.

Dubai Parks and Resorts, a subsidiary of Meraas Holding, today began the bookbuilding phase of its planned IPO on the Dubai Financial Market.

Publicis Groupe's $3.5bn loan for its acquisition of Sapient, the marketing and consulting company, is near closing, according to a banker working on the deal. A syndicate of relationship banks has been invited.

Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buyout by Oak Hill Capital Partners.

Yildiz Holdings, the Turkish food manufacturer, has announced details of the debt package that will back its buyout of United Biscuits, ahead of a London bank meeting on Friday.

Bankers working on Axis Bank’s new dollar bond are expecting a strong response from investors as the issuer makes its first appearance in two years. A lack of Indian bank supply combined with positive sentiment towards the country is likely to work in its favour.

JAB Holding, the investment company of the Reimann family, has issued a debut €750m seven year bond. Real money investors took 96% of the allocations and the bond was priced inside the secondary level of Wendel, the French investment company, though it softened slightly in the secondary market.

Beijng Infrastructure Investment has been a regular in the offshore debt market this year, and printed its third bond on November 13. But there was a strategy behind its frequent appearances, the first two testing the water ahead of a much larger trade this time around.

Formosa Group Cayman Islands launched a $1.2bn seven year loan into general syndication on November 12 with three arrangers, which are syndicating it on a best efforts basis.

Bank of East Asia raised $500m in its first Basel III deal, managing to attract a huge order book which allowed bankers to tighten guidance by 30bp.

Regulators have agreed a first round of fines over rigging the G10 FX markets, but with big beasts such as the US Department of Justice conspicuous by their absence from the settlement, there could be plenty more to come.

Market participants at the International Capital Markets Association’s primary markets forum on Wednesday questioned the value of technological developments in the syndication process that could remove human contact from the process. But regulatory and cost pressures will make technology all the more important, and arguably the last decade of bond market growth could not have happened with using technology to accelerate the new issue process.