JP Morgan

Baidu managed to raise $1.5bn from a dual-tranche bond on Thursday, but a choppy market backdrop meant the notes took a battering in the aftermarket.

The euro market was all but deserted this week, but one borrower broke the silence, hitting screens for a socially responsible investment bond on Tuesday.

Russian gold miner Nordgold and coal company Siberian Coal Energy Co (Suek) signed syndicated loans in the week leading up to Vladimir Putin’s victory in the Russian general elections.

UK property company Hammerson has signed a new £1.5bn three year revolving credit facility, bringing in a dozen banks for a financing aimed at slashing the funding costs of its acquisition target, Intu.

Anheuser-Busch InBev timed a $10bn multi-trancher to perfection this week as it jumped into the market to extend maturities ahead of the Federal Reserve’s rate interest rate hike.

The auto finance arm of General Motors opted for short maturities to try to ensure the success of its first bond sale of 2018, but the €1bn dual-tranche deal only received orders of €1.7bn and the lead managers were only able to tighten one of the tranches from initial price thoughts.

Three issuers broke the brief new issue hiatus in the CEEMEA market on Thursday, all starting with wide levels to tempt investors into their books.

Glencore, the Swiss-based mining and commodities group, issued a $500m seven year equity-neutral convertible bond on Tuesday that achieved terms described as very aggressive. It attracted around 100 investors, including a couple of sovereign wealth funds.

Globalworth, an AIM-listed real estate investment trust focused on Poland and Romania, released initial price guidance for a euro benchmark seven year bond at 3.375% area, talk that a syndicate official away from the note represented around a 40bp pick up over fair value. The talk was later in the morning updated to 3.125%-3.25% with leads saying the deal will price in range.

After wrapping up investor meetings on Monday, Abu Dhabi Commercial Bank has opened books on a new five year dollar deal, offering around 30bp premium in order to attract investors in a "shakier market.”

Ukrainian poultry producer MHP was offering a chunky concession to its own curve on Thursday as it looks to push out its debt maturity profile with a new issue to finance a buy-back of its 2020s.

Asia’s dollar bond issuers were back in the market on Thursday after taking a pause during the US Federal Open Market Committee meeting this week.