JP Morgan

Daimler had the new issue corporate bond space to itself on Monday, but the deal it achieved was still a spectacular result for many reasons. Pushing out to new, longer maturities for the volume of bonds sold was an excellent outcome for one of the more frequent corporate issuers, and could support a more permanent long dated market in euros, writes Nigel Owen.

Covered bonds should help improve asset-liability matching for Andorra Banc Agricol Reig (Andbank), said its director of its financial institutions group, Paco Collell.

Lotte Chemical Titan Holding, the Malaysian arm of South Korean conglomerate Lotte Group, has finished bookbuilding for the largest Malaysian IPO since Astro Malaysia Holdings' listing in October 2012.

Naspers returned to the eurobond market after a two year absence on Thursday, releasing initial price thoughts for a new dollar benchmark.

Polish utility company Tauron Polska Energia moved pricing 17bp on Wednesday to raise €500m with a 10 year note, despite a large sell-off in Bunds on Tuesday.

FIT Hon Teng opened books this week for its potential HK$3.0bn ($384.3m) IPO and found investors scrambling to get in.

The Dutch government sold its second block of shares in ABN Amro on Tuesday night at a higher price and a tighter discount than its first, in an extremely well-received €1.5bn transaction.

Strong support from IG accounts had enabled Polish utility company Tauron Polska Energia to tighten guidance to 165bp, plus or minus 2bp, for its windy but not green 10 year note on Tuesday morning.

Russia’s EuroChem once again appeared to prove on Monday that it can squeeze bond investors for every last basis point and get away with it, but one of the bookrunners ended up owning up to half of the deal.

Though some bankers have detected a cooling of investors’ thirst for European IPOs in recent weeks, the right names are still flying off the shelves. Delivery Hero, the online food ordering service, is guiding investors in its €866m deal to the top of the price range, and shares in restaurant chain Vapiano rose on their debut.

The IPO of Lotte Chemical Titan Holding, the Malaysian arm of South Korean conglomerate Lotte Group, is due to price towards the bottom of its initial range, according to a banker on the deal.

The European leveraged finance market was disappointed this week when Bain Capital’s and Cinven’s €5.3bn bid for German generic drug firm Stada fell apart.