JP Morgan

Two US flotations of Chinese firms raised $686m this week, after one was priced in the middle of the range and traded down, while the other was set to make its debut on Thursday.

Suntec Real Estate Investment Trust printed a S$300m ($220m) convertible bond off the back of solid aftermarket trading in recent new issues, although some bankers think the window could be closing soon.

The SSA dollar juggernaut is set to roll into a third day, with two deals on screens for Thursday’s business. Investor appetite shows no sign of letting up, as the two deals priced on Wednesday drew large books — as was seen with a host of trades a day earlier.

Analysts expect US chipmaker Broadcom to tap as many funding markets as possible to finance its $130bn takeover of Qualcomm. Up to $12bn is likely to come from the loan market alone.

Excelitas and Axilone have added to the list of leveraged buyouts catching the attention of the European market amid a busy stream of loan repricings.

Several of November’s IPOs in Europe have taken hits in the aftermarket, continuing October’s trend of recently floated companies’ shares trading down.

The Republic of Lithuania on Tuesday drew a combined €1.27bn book for its taps as investors rushed to take a piece of what could be Lithuania’s last international bond for over a year.

Corporate bond spreads may be agonisingly tight, and getting tighter by the week, but investors still think they can squeeze value out of the market.

The world’s largest bread maker, Grupo Bimbo, returned to bond markets on Tuesday after a three year absence. Its 30 year bond was sold mainly to US investment grade buyers, despite the issuer’s Mexican nationality.

Axtel, the Mexican telecoms company, is meeting investors for a planned senior unsecured bond issue. Investors say the firm is almost unrecognisable from the one that carried out a distressed debt exchange in 2013.

ICBC Financial Leasing Co hit the dollar bond market on Wednesday with a dual-tranche transaction, returning a few months after its last international issuance.

Indonesian industrial estate developer Kawasan Industri Jababeka has returned to the market to tap its existing 6.5% 2023s.