JP Morgan

Philippine company SMC Global Power Holdings Corp has priced its second senior perpetual bond of the year, raising $500m from a four times covered deal at a yield that met the issuer’s target.

US pharmaceuticals firm Eli Lilly headed out into the euro market on Tuesday for a €1.6bn dual tranche trade, which will partially finance a tender offer on dollar debt.

Skandinaviska Enskilda Banken (SEB) refrained from pushing into record territory with the coupon on its new dollar-denominated AT1 on Tuesday, as European banks begin testing new lows for yields in the asset class.

Emre Eler is joining Citi, after nearly two decades at JP Morgan.

Mamoura Diversified Global Holdings (formerly Mubadala Development Company) has released initial price guidance for its dollar triple trancher at levels a rival syndicate official said looked fair, and included another 30 year bond from the region in just over a month.

After making its debut in the capital markets last week, France’s Action Logement Services (ALS) plans to issue bonds and private placements across various maturities under its 100% sustainable euro medium-term note (EMTN) programme.

Europe’s lacklustre market for IPOs is showing little signs of improvement as the African Export-Import Bank (Afreximbank), the African trade finance group, pulled its $250m IPO on the London Stock Exchange, blaming “unfavourable market conditions”.

Hyundai Capital America has priced a $800m three year bond alongside a $700m seven year, raising more than expected from its latest outing.

Chinese firms Lizhi and Phoenix Tree Holdings are each planning US IPOs of up to $100m, according to listing documents filed with the SEC.

LBBW had enough support from investors to price a new additional tier one (AT1) with hardly any new issue premium on Monday, having been pushed into entering the asset class for the first time as a result of recent changes to the rules on bank capital in Europe.

New World Development Co reopened a perpetual bond from earlier this year that came with an aggressive fixed-for-life structure. It raised an additional $400m ahead of yet another widely-anticipated Federal Reserve interest rate cut this week.

Wells Fargo made a stylish return to the dollar market on Thursday following its earnings blackout, by printing a $6.5bn callable trade.