JP Morgan

Citigroup bulked up parts of its Irish operations last year, in what may have been long term preparation for a potential UK vote to leave the European Union. But other US firms, including Goldman Sachs and Morgan Stanley, continue to rely heavily on their UK subsidiaries to access international markets.

Greentown Service Group has thrown off any concerns about Brexit-induced volatility and kicked off bookbuilding for its potential HK$1.7bn ($220.5m) IPO, with investor response so far being positive, according to a source with direct knowledge of the deal.

China Resources Pharmaceutical Group and Cofco Meat Holdings are planning to float on Hong Kong’s main board, having filed for approvals from the city’s exchange on Monday.

Electricité de France has named four banks to lead its €4bn rights issue, of which €3bn will be bought by the French government.

Argentina’s confectionary maker Arcor is tomorrow meeting investors in the US and London to market a $300m offering, the only active high yield deal that European investors can consider in the week after the UK's Brexit vote.

Varun Beverages has filed a draft red herring prospectus to list in India, with the IPO slated for the end of the year under leads Axis Capital, Citic CLSA Securities and Kotak Mahindra Capital.

In the future, increasingly niche strategies from banks could force borrowers to increase the size of underwriting syndicates, according to Siegfried Ruhl, the head of funding at the European Stability Mechanism.

Cemex Holdings Philippines, an affiliate of Mexican cement giant Cemex, has kicked off bookbuilding for its Ps24.4bn ($526.3m) listing, with the offering generously covered, according to a source with knowledge of the situation.

HDFC Standard Life Insurance Co looks likely to drop its IPO plans and instead merge with Max Life Insurance Co, finding an opportunity for a backdoor listing.

Argentine confectionary group Arcor is looking to buy back all its existing dollar bonds ahead of a return to international capital markets scheduled for shortly after the Brexit referendum.

Ten banks participated on Wednesday in an auction to determine settlement prices for credit default swaps on Norske Skog, the Norwegian publishing paper manufacturer, after it triggered a restructuring credit event in April.

Danske Bank has hired a former syndicate official from JP Morgan.