JP Morgan

The European high yield bond market returned from its summer break to €2.8bn of new bond offerings this week, including a sub-benchmark sized note from Delaware’s Kronos International on Monday.

Praesidiad, a Belgian perimeter security company, launched the term loan for its acquisition by private equity firm Carlyle on Monday, in what was a busy week for the market. More than €2.5bn of loan deals have been launched in the past four days.

After months of preparation, one of this year's most highly anticipated European IPOs got going on Monday, when Pirelli, the 145-year old Italian tyre maker, announced its intention to float on Borsa Italiana.

Steel Pipe Industry of Indonesia (Spindo) is courting investors in Asia and Europe this week, in pursuit of its first international dollar bond.

Weichai Power Co will sell senior dollar perpetual bonds worth no more than the equivalent of €650m ($772m) to help pay off some bank loans taken for the acquisition of shares in Kion Group.

Chinese biotech firm Zai Lab has launched bookbuilding for a $105.9m IPO of American Depository Shares (ADS), and is counting on US investors favouring start-ups to support the deal.

China SCE Property Holdings scooped up HK$1.6bn ($204.5m) from an overnight block on Thursday that was timed to perfection, taking advantage of a share price rally to its highest point for the year.

Zai Lab is set to kick off roadshows on Tuesday for its $150m IPO on the Nasdaq, according to a banker leading the transaction.

The European leveraged finance market is set to contend with loan deals approaching €4bn for the start of September. Over half of that is for the German pharmaceutical firm Stada — a deal that could help make funding more expensive for everyone else, writes Victor Jimenez.

Best, a logistics firm backed by Alibaba, started pre-marketing its $1bn IPO on the New York Stock Exchange this week, as a clutch of Chinese issuers also filed listing applications in the US.

Neinor Homes, the Spanish builder, has chosen its first international bank as a lender this week, instead of a domestic bank. Its CEO, Juan Velayor, explained why to GlobalCapital.

The bookrunners on logistics company Best’s potential $1bn US IPO have kicked off pre-marketing, according to a banker working on the deal.