JP Morgan

Gazprom opened books on an eight year euro transaction on Wednesday, having recently regained three investment grade ratings for the first time in several years.

Dubai-based developer Majid Al Futtaim printed its third hybrid bond on Tuesday, a $400m perpetual non-call eight year. In the absence of a strong Asian bid, real money European investors anchored the book.

The IPO of Siemens Healthineers, the healthcare technology division of Siemens, is covered throughout its revised price range, according to a banker involved in the transaction.

Abu Dhabi Commercial Bank has named leads for its first publicly distributed dollar bond for three years.

Payments service provider Huifu Payment is looking for the green light to list in Hong Kong, having filed a draft prospectus with the city’s bourse on Tuesday.

After a reasonable wait, investors are starting to see the more frequent investment grade corporate bond issuers return to the market. On Tuesday, French materials company Saint-Gobain and French telecoms operator Orange sold benchmark deals and UK media company WPP sold a dual-tranche issue.

Yapi Kredi printed its $500m five year senior bond on Monday with a new issue premium of 20bp-25bp — a hefty but necessary concession, vindicated by the deal trading around re-offer on Tuesday.

Qatar National Bank has printed two dim sum bonds through JP Morgan, a bank whose commitment to Qatari issuers has been under scrutiny since the Middle East diplomatic crisis erupted in June 2017.

Ukrainian chicken producer MHP is looking to lock in a lower cost of funds and reduce the cost of its liabilities with a buyback of its 2020s, combined with a new issue.

After five years away from the market, Dutch supermarket operator Ahold Delhaize is set to become a frequent issuer as it sold a dual-tranche deal on Monday, six months after its return to the market. American Honda is not quite a frequent issuer, but its new five year deal on Monday took its total outstanding deals in euros to five.

Yapi Kredi shrugged off last Friday’s downgrade by Moody’s and was well on its way to selling a new five year senior bond on Monday morning, having started around 40bp back of fair value, according to a lead manager.

Dubai based developer Majid Al Futtaim has launched a tender offer and new issue in order to optimise the cost of its hybrid capital and balance sheet structure.