ING

Chinese issuers stormed the primary debt market on Wednesday with Export-Import Bank of China, China Aluminum International Engineering Corp (Chalieco) and Changsha Pilot Investment Holdings Co among the borrowers attracting bids.

The Asian debt market stepped up a gear Tuesday with a number of new launches and mandates, as issuers navigate the volatility and try to wrap up their fundraisings before key holidays and the end of the year.

Ceská telekomunikacní infrastruktura (CETIN) is planning to issue a five year bond, the second issuer to test the new period of volatility following the election of Donald Trump as US president.

The bounce in international equities since the election of Donald Trump as US president has led, as widely expected by market participants, to a wave of block trades this week, some of which were covered very quickly.

Warehouses De Pauw, the Belgian warehouse company controlled by the De Pauw family, has successfully raised €178m through an overnight capital increase to finance the acquisition of new warehouses in the Netherlands.

Commodity trader Gunvor increased its European revolving credit facility by around 50% to meet oversubscribed commitments, having also grown its $725m working capital loan after strong demand.

Banks and insurers have avoided printing senior or subordinated debt in the euro market this week, after determining that the recent rates volatility meant they would have to pay up for the privilege.

Commerzbank returned to the covered bond market on Wednesday to issue its fourth deal of the year. Although order book granularity was less than usual, the €500m long six year was priced tightly and the quality of interest was high.

ING was looking to cut a sizeable chunk from its remaining additional tier one requirements on Wednesday, targeting the Reg S dollar market for its third issue in the currency.

Mylan, the US pharmaceutical company, rode its industry’s wave of post-Donald Trump euphoria on Tuesday as it revived a multi-tranche euro bond issue that it had delayed amid political noise in September.

As expected, the loans for the leveraged buyout of Polish auction website Allegro are tightly priced, with tenors of six and seven years for less than 400bp.

Potential lenders to the Z4.8bn loan for the leveraged buyout of Polish firm Allegro will meet in Warsaw on Thursday where the deal will be launched into general syndication.