JP Morgan

Carlyle Group has sold its stake in RAC, the UK roadside recovery firm, to CVC Capital Partners in a deal that values the business at £2.2bn, including debt.

Kuwait petrochemicals firm Equate is scheduled to complete syndication of $6bn of loans this week.

eHi Car Services finally made its debut in the international bond market, raising $200m from a three year bullet on Tuesday. After its first attempt at a deal failed in August, it decided to pay up this time to ensure success.

Heineken has been making up for lost time in public debt markets, issuing its second bond of the year after being absent since 2013.

Latvia has named its banks to arrange a euro-denominated new issue and manage a concurrent tender offer for the country’s 2020s and 2021s.

Drug manufacturer Alkem Laboratories has set the price range for its Rp13.5bn ($202m) IPO in India, with the offering set to launch on December 8.

The Republic of Indonesia has returned to the dollar bond market for the third time this year for an up to $4bn deal, while eHi Car Services and Golden Wheel Tiandi Holdings are attracting high yield bids.

Luxembourg-based airport services provider, Swissport, sold €690m of high yield bonds on Thursday to fund its acquisition by Chinese private equity group HNA.

In this round-up, ANZ launches free trade units in the Shanghai FTZ, RMB deposits drop in Macau and Taiwan, ECB and PBoC complete testing of swap line, JP Morgan starts RMB money market fund transfer solution, and China might begin a RMB fund in collaboration with CEE countries. Plus, a recap of our top stories this week.

SEB Germany offered the lowest ever yield for a primary covered bond when it issued a three year public sector Pfandbrief on Tuesday. But some sort of positive return was necessary, even if it was minuscule.

CRH, the Irish building materials group, breezed through the new issue market on Wednesday with a deal of more than €1bn in euros and sterling.

The corporate dollar market ground to a halt ahead of the US Thanksgiving holiday as investors moved to risk-off mode after Vodafone pulled a deal and geopolitical tensions in the Middle East kept borrowers on the sidelines.