JP Morgan

After a rocky beginning to the week that saw an offering from Lufthansa pulled — a rarity in the European corporate bond market — French transnational utility and service company Veolia managed to sell a total of €1.1bn in senior unsecured bonds across two tranches on Wednesday.

Phoenix Group Holdings, the UK life insurer and asset manager, will carry out a £735m rights issue to partly finance its takeover of Abbey Life, which it announced on Wednesday morning, causing its share price to rise by 3.6%.

Oman left a chunky new issue premium on the table with its latest $1.5bn bond sale, but with competing supply looming, and a market backdrop that included two pulled trades, EM bankers said it was a prudent move that resulted in a great trade and over $4bn of orders.

The ebullient tone that characterised the first three weeks of September has faded as investors begin to fret over the US presidential election on November 8, but there is still life in the SSA market.

The Philippine market regulator has given the go ahead to the local arm of oil and gas giant Royal Dutch Shell to list in the country.

CK Hutchison Holdings is seeking fresh funds to refinance debt, and is eyeing a dual-tranche dollar bond with five and 10 year tenors.

India’s UPL Corp is setting its sights on a dollar offering, and has obtained first time ratings from international agencies.

Intercontinental Exchange has added JP Morgan as the fourth clearing member of its ICE Clear Singapore subsidiary.

A pair of public sector borrowers were able to sell tightly priced euro deals on Tuesday, with another two trades likely to follow on Wednesday.

German chemicals supplier Lanxess picked two banks to supply its €2bn bridge facility for the acquisition of Chemtura. More banks are set to join in syndication, according to a banker close to the deal.

Spanish natural gas utility Enagás is in talks with its relationship banks to refinance a €1.5bn revolving credit facility.

After a two year absence from the capital markets, two Nigerian corporate issuers are lining up to test investor demand for sub-Saharan Africa high yield credit.