JP Morgan

Hong Kong real estate giant Swire Properties and the Korea Development Bank have launched the first investment grade bonds from Asia for 2016, opening books for dollar-denominated transactions on January 6.

The Asian block market started with a jolt this week as Hanwha Techwin Co was forced to trim a W282.1bn ($235m) sale in Korea Aerospace Industries. The deal stumbled during bookbuilding after a separate sale in the company was marketed to the same investors at the same time, setting a negative tone for future block trades in South Korea.

If Monday was an ugly beginning to 2016 in the equity capital market, with a 7% fall in Chinese stocks dragging world indices down, Tuesday has been much cheerier, even bringing deals in Europe.

Bank Nederlandse Gemeenten started January with a bang, roaring out of the blocks with an oversubscribed book on the year’s first euro deal, and printing its largest ever 10 year benchmark in the currency.

Kuwaiti petrochemicals firm Equate has signed $6bn of loans, with a range of lenders from different regions joining the five underwriting banks.

Manulife US Real Estate Investment Trust (Reit) is reviving its plans to list in Singapore after shelving an IPO in 2015, and is aiming to launch in the first half of this year, according to a source close to the deal.

A W364.50bn ($309.64m) block has been launched in aircraft parts maker Korea Aerospace Industries, with vendor Hanwha Techwin Co looking to pare down its stake.

Bank Nederlandse Gemeenten is the solitary public sector borrower in the euro market so far this year, with a public holiday across much of Europe likely to limit issuance in the currency this week.

The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the emerging market, public sector, financial institution and corporate bond markets. Below are the EM Deals of the Year 2015. We selected the trades that we think will be remembered for their success in challenging conditions, for making the best use of the demand available to them, or for having made a longer lasting impact, such as the re-opening of a market. The winners are presented here.

The GlobalCapital editorial team has picked what it believes to be the standout bond issues of 2015 across the corporate, high yield, public sector, financial institution and emerging market bond markets. Below are the High Yield Deals of the Year 2015.

Citi held onto its top spot in the CEEMEA bond league tables this year and continued its grab of market share even though absolute volumes were destroyed. Meanwhile, Deutsche Bank, BNP Paribas and Goldman Sachs lost ground as Barclays, Société Générale, Unicredit and Standard Chartered Bank rose through the ranks.

Solvay, the Belgian chemical company, achieved a 95% take-up for its €1.5bn rights issue, which concluded last week, to finance its $5.5bn takeover of Cytec Industries – one of 2015’s most prominent M&A financings in the European equity capital market.