JP Morgan

Zhongyu Gas fires up refi — Trans Corp hit syndication — Cheng Loong raising Vietnam funds — Global Bank gets bigger loan

Oman released initial price thoughts on Wednesday morning for new five and 10 year notes and evidence suggests the deal was building well.

Novolipetsk Steel’s book build was a riot on Wednesday morning as investors clamoured to get hold of paper from the first of the three Russian corporates carrying out liability management exercises this week.

Hong Kong-listed Semiconductor Manufacturing International Corp returned to the equity-linked market this week for the first time since 2014, soaking up demand to raise $450m with a seven non-call four year convertible.

The Republic of Indonesia sold its first 12 year euro note as part of a dual-tranche return to the European bond market on Tuesday. It had to pay up over its dollar curve, but the elevated cost proved no hardship as the sovereign is keen to make its presence felt among European investors.

Of the five IPOs due to reach completion this week, Norway’s B2 Holding finished its bookbuild today and Dong Energy has put out final guidance. Van Lanschot has also just revised its guidance. The other two — ASR Nederland and Basic-Fit — have still to refine their original price ranges.

The Irish telecommunications firm Eircom Holdings on Tuesday issued a benchmark size secured bond at 25bp inside guidance levels — giving encouragement to the group of other issuers waiting in the pipeline.

Indonesia returned to euro-denominated bonds on Tuesday. It will still have to pay up over its dollar curve, according to EM bankers, despite the low yields in euros.

The Philippines-based arm of oil and gas giant Royal Dutch Shell has selected two firms to lead its potential IPO in the country, according to a source familiar with the matter.

While opinions range on how appropriate it will be for MSCI to go ahead with the inclusion of A-shares into its global benchmarks, the index provider has been giving greater space to US-listed Chinese stocks. But despite the decision on A-shares being just over a week away, market participants are still weighing the pros and cons.

Dong Energy has narrowed the price range for its IPO, cutting off the bottom end of the range, after a banker on it said: “it’s about as strong an IPO as we’ve seen in a long time”.

Ireland's largest fibre network operator, Eircom Holdings, on Monday brought a rare offering from the telecoms industry to the high yield market.