JP Morgan

Two Russian steel companies have announced mandates and roadshows this week and look set to become the first corporates from the country to test the bond market since the latest round of US sanctions on their country in early August.

The European Investment Bank failed to reach full subscription for a tap of its May 2026 Sustainable Awareness Bond that was priced with a yield of minus 0.542%.

Peter Kerckhoffs will join Moelis & Company in December to advise clients in the Netherlands and across Europe. JP Morgan has replaced him as senior country officer for that country with Cassander Verwey.

Shanghai International Port Group (SIPG) has made a quick follow-up to its dollar market debut, rolling out a new dual-tranche deal less than two months after it sold its maiden bonds.

Ukrainian grain and sunflower producer Kernel is set to amend and extend an existing syndicated loan, according to bankers familiar with the deal. The transaction marks one of the few intermittent spots of activity in the Ukrainian loan market.

SSA issuers of dollar bonds were able to push harder on spread than they have in recent weeks on Wednesday, surprising syndicate bankers away from the deals.

Russian pipe manufacturer Chelyabinsk Pipe Plant has become the second metals company from the country to announce plans for a roadshow this week, joining Severstal. The Chelpipe deal — a $300m Reg S/144A five year senior unsecured note — will be the company's debut in the Eurobond market.

BOC Aviation and Clifford Capital navigated choppy market conditions successfully on Tuesday to raise dollar bonds from investors.

WuXi AppTec took advantage of an incredible rally in its stock price and its rarity in the equity-linked market to raise $300m from a convertible bond that was a huge hit with investors. Rashmi Kumar reports.

JP Morgan has hired Nomura’s Ryan Dawson as a managing director in its leveraged finance origination team, covering sponsors in EMEA and sponsors and corporates in the UK.

The dollar SSA market burst into life on Tuesday, but some bankers say that the tight spreads and low yields on offer mean there is little guarantee any of the trades will be easy.

ING sold a dollar-denominated additional tier one (AT1) this week, adding an influx of supply in the asset class in recent weeks. It will have the option to redeem its new bonds twice a year after the first call date, instead of the usual five years in all of its outstanding bonds.