JP Morgan

India’s Lodha Developers International opened books for a tap of its existing $200m 12% 2020s on Monday, more than two years after the original notes were sold.

China’s Alibaba Group Holding, which wowed the debt market three years ago with the largest G3 bond on record from Asia ex-Japan, is preparing for a comeback, mandating banks for its upcoming dollar outing.

Macquarie and JP Morgan had the market to themselves this week, as dollar supply slowed to a trickle ahead of the Thanksgiving holiday in the US. But Yankee banks could help to increase deal flow in the run up to Christmas.

Blockchain’s seemingly inexorable encroachment on the capital markets business reached a new phase on Wednesday with the world’s first bond denominated in cryptocurrency.

Two leveraged loan deals in the market this week, for Tele Columbus and PlusServer, have both had their margins tightened by 25bp, suggesting that market participants who predicted early this week that spreads were going to start widening had spoken too soon.

The dollar tranche of Ülker’s second loan of the year has been priced 20bp tighter than on its first loan of 2017, suggesting the market is swinging in Turkish borrowers’ favour as political noise in the country quietens down.

Shares in Migros Ticaret, one of the biggest supermarket chains in Turkey, fell 8.5% on Wednesday after BC Partners sold a 7.3% stake in the company in a block trade on Thursday night. The shares fell another 3.5% on Thursday.

Some 17 banks have pledged roughly €15bn in a bridge loan to support Hochtief's bid for Abertis, the Spanish toll road operator.

Four new investment grade corporate bond issues in euros and one in sterling ensured European investors were much busier on Tuesday than they had been on Monday.

Valora, the Swiss convenience retailer, has raised Sfr172m through an equity capital raising to refinance its acquisition of German bakery group BackWerk and to grow its production capabilities.

The year-end bond rush is upon us, with a number of issuers from China, India and South Korea mandating banks on Tuesday for their planned dollar bonds.

The Financial Stability Board (FSB) made seven changes to its list of global systemically important banks (G-SIBs) on Monday, lowering capital requirements for BNP Paribas and Credit Suisse and removing Groupe BPCE from the list entirely.