JP Morgan

Chinese biopharmaceutical company Zai Lab has appointed a pair of firms to lead its US listing, as a host of other Mainland companies also prepare to float across the Pacific.

Indonesia’s Medco Energi Internasional braved a rocky market to grab $300m on Thursday, deciding to go ahead with its issuance on expectations of worse conditions further ahead.

The US investment grade corporate bond enjoyed a huge week of issuance as nine borrowers printed deals on Monday before British American Tobacco delivered $17.25bn on its own on Tuesday and plenty more came on Wednesday and Thursday. Bankers predict another heavy week to follow before supply slows for the traditional summer break.

Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.

Country Garden Holdings Co hit the market on Wednesday to add $100m to its existing $600m 4.75% notes sold in July, through a quick deal buoyed by reverse enquiry.

Indonesia’s Medco Energi Internasional, which counts state-owned electricity generator Perusahaan Listrik Negara as one of its clients, is marketing a new dollar bond.

Inflammatory rhetoric between the US president and North Korea failed to disturb rates markets on Wednesday. FMS Wertmanagement on Wednesday brought a tightly priced deal that drew heavy central bank demand — although it fell “just a touch” under full subscription.

Country Garden Holdings Co is back in the market with a tap of its 2022 notes sold less than a month ago. Meanwhile, Jiangsu Bicon Pharmaceutical Listed Company is plotting a $300m fundraise from a three year bond.

NRW.Bank racked up another tightly priced deal for the dollar SSA market on Tuesday, as FMS Wertmanagement prepared a trade that bankers expect to attract a similar central bank audience. Issuers are enjoying strong summer dollar conditions, with swap spreads stable and US Treasury spreads attractive for the buy-side.

Conditional books are already oversubscribed for the €240m term loan that funds the Ontario Teachers' Pension Plan's acquisition of Mémora, an Iberian funeral services provider.

Investor interest in the second leg of Chilean copper miner Codelco’s tender offer has been strong, with almost $1bn of bonds tendered by the early bird deadline.

Indian telecommunications group Bharti Airtel has raised Rp25.7bn ($403.2m) after offloading a stake in its tower unit Bharti Infratel, selling the shares near the bottom of guidance.