JP Morgan

JP Morgan has hired a banker from HSBC to join its FIG ratings advisory team.

Demand for Turkish lira MTNs is likely to rise after the country’s Justice and Development party (AKP) won a majority at parliamentary elections on Sunday, encouraging confidence in the currency.

Primary activity has finally returned to the Asia ex-Japan high yield market following a hiatus of close to three months, with Future Land Development Holdings launching a deal on Thursday. While the pipeline remains thin, market participants are taking heart that not all is lost for the asset class, writes Rev Hui.

The Republic of Albania has released initial price thoughts on a euro denominated five year Eurobond.

InterGlobe Aviation and SH Kelkar & Co have found huge success with their respective Indian IPOs, with all books multiple times covered by a flood of investors.

Industrial and Commercial Bank of China New York opened bookbuilding for a dual-tranche senior dollar bond on Thursday, while Future Land Development Holdings has started wooing high yield investors with a new two year offering.

Oberthur Technologies, the French smart cards maker, indefinitely postponed its IPO on Wednesday, blaming poor market conditions.

Amundi, Europe’s largest asset manager, has covered its IPO, which is set to raise at least €1.4bn, on the third day of the bookbuild.

Swiss foods group Nestlé issued a €500m no-grow bond today, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

Kuwait petrochemicals firm Equate is due to close a $6bn one year loan by early December that will include an Islamic financing component.

The Hashemite Kingdom of Jordan printed its first non-US guaranteed standalone deal from the country for five years on Tuesday, and at a tight price.

Market sentiment improved towards the back of last week when some pipelined deals burst into the market, and that sentiment has continued to improve in the early throes of this week.