JP Morgan

Following a busy period in which KfW and Nordic Investment Bank priced deals, African Development Bank (AfDB) was the sole issuer to hit the market this week for a benchmark deal in dollars.

Saipem, the Italian oil and gas engineering group, failed to sell all of its €3.5bn rights issue to shareholders by last Friday, in an ominous sign for other commodities firms that may still need to raise fresh capital.

The Republic of Slovenia printed a €1.5bn 16 year bond on Thursday from a book of €1.75bn and achieved its aim of building out the longer part of its curve.

Slovenia has firmed price guidance for a euro 16 year benchmark to 147bp over mid-swaps, a level that syndicate officials away from the deal said represents a double digit new issue premium.

Hong Kong Broadband Network is raising a HK$700m ($90m) loan to fund its acquisition of telecoms businesses Concord Ideas and Simple Click Investments.

South Korean computer and mobile game developer Netmarble has shortlisted a trio of international banks and five local firms to lead its IPO, which could raise as much as W2tr ($1.6bn).

Grand City Properties issued its fourth convertible bond on Wednesday, raising €450m, more than the other three deals put together. The German housing company capitalised on the successful performance of its earlier deals to win €2.5bn of demand and strong terms.

The African Development Bank was unable to tighten pricing from guidance on its first benchmark of the year on Wednesday, which bankers away from the deal put down to a difficult market backdrop.

A Dutch agency has become the latest public sector borrower to dip into a record breaking sterling market for the year so far, after mandating banks on Wednesday for a deal.

Pirelli will not refinance its €6.8bn acquisition bridge loan in the bond market as planned. A torpid high yield bond market has spooked the borrower away from capital markets and back to bank loans.

Bahrain’s decision to revive last week's cancelled bond sale was driven by reverse enquiry from investors who were unperturbed by the issuer’s new junk status, according to bankers on the deal.

The SSA market has seen a steady stream of activity across the euro and dollar markets this week. The European Stability Mechanism priced the week’s biggest deal on Tuesday, printing €4bn in 10 and 40 year tenors. Meanwhile African Development Bank led the charge in dollars, preparing to print a $1bn no-grow in its first benchmark deal of the year.