ING

The Government of Mongolia raised $500m from the international bond market on Tuesday, opting to pay up to compensate investors for its vulnerability to external shocks.

German chemicals company BASF printed a €300m tap of existing notes on Tuesday, clinching a low single digit concession for the deal.

French pharmaceuticals company Sanofi revived the zero coupon bond on Tuesday as it returned to the bond market issuing its favoured triple tranche structure.

Trafigura, the commodity trading company, cut the margin of its European loan in its latest refinancing to the lowest level since before the global financial crisis, but also received fewer commitments.

A $400m loan for Turkish industrial holding company Borusan is very near completion. The deal is a rare Turkish corporate syndicated loan but many of the lenders are still domestic banks, according to one banker.

The Government of Mongolia is out with a 144A/Reg S bond, more than two months after holding meetings with potential investors. Delayed by a series of negative macro factors, the sovereign is offering an attractive yield when compared with its outstanding notes.

Four lenders are close to being mandated for a $400m fundraising for Maybank, according to sources.

Thailand’s TMB Bank made a popular return to the bond market on Wednesday, raising $300m from a 5.5 year offering that was six times covered thanks mostly to its rarity value.

French industrial minerals producer Imerys brought two tranches of €300m sub benchmark notes to the European corporate bond market on Wednesday and clinched minimal concessions.

Covered bond primary activity slowed this week with just two €500m seven year trades emerging from banks in the Netherlands and Italy.

Asia's debt market was crowded on Wednesday with three issuers on the hunt for their respective fundraisings ahead of the Easter holiday.

Oil products storage and distribution firm Puma Energy has invited banks to join a $500m loan that will refinance a one year revolver that matures this May.