JP Morgan

China Development Bank (CDB) reopened a dual-currency transaction on Wednesday, bagging a $2bn equivalent from the euro and dollar tap. With strong demand from onshore investors, the policy lender was able to cut cost while raising more than the size of the original bond.

Shareholders of National Australia Bank, the owner of Clydesdale and Yorkshire Bank Group, have voted to separate NAB and CYBG as a final nudge for the UK institution before it is due to float early next week.

Mexico-headquartered home appliances company Controladora Mabe is offering bondholders a fee to enable Chinese group Qindao Haier to buy General Electric’s share in the borrower.

Public sector borrowers are hitting several parts of the euro curve, with dollar issuance all but dried up before the US Federal Reserve announces later on Wednesday the outcome of its Federal Open Markets Committee meeting.

While some prospective issuers are still busy building their IPO books, and CYBG’s offering is oversubscribed, the cancellation of a deal on Tuesday spoke volumes about the difficulty of doing deals in a equity capital market.

Postal Savings Bank of China has picked five banks to lead its listing, which could raise as much as $15bn to become the largest IPO in Hong Kong in five years.

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

Spanish low cost airline Volotea has decided to postpone its initial public offering in Madrid, making it the first ECM victim of this year’s heightened market volatility.

China Railway Rolling Stock Corp unveiled a rare H-share convertible bond on Monday, raising $600m with what is only the second deal in the format in nine years.

Trading in Saipem, the Italian oil and gas engineering company, had to be suspended on Monday, the first day of the firm’s €3.5bn rights issue, due to heightened volatility in the stock.

Bankers are hoping for some busy Kazakhstan deal flow as the Tengizchevroil (TCO) oil consortium holds discussions for an unsecured corporate loan of several billion dollars.

The Dominican Republic gave a further indication of Latin American borrowers’ new pragmatic attitude to market access by taking the unusual step of raising $1bn of 10 year money on a Friday.