JP Morgan

Indonesia’s tumbling equity market has claimed its first victim in Solusi Tunas Pratama (STP), which was forced to drop its Rph3.91tr ($302.24m) share sale despite attracting decent interest from investors.

The European Financial Stability Facility passed a tricky test in euros on Wednesday — but bankers were divided over whether it had opened the market for others.

FedEx has obtained a €2bn loan to buy its European competitor TNT Express, but will also finance the deal with balance sheet cash.

Belfius Bank is now the sixth bank in the capital deal pipeline, and there is growing concern that persistent rates volatility will make it hard for them to avoid running into each other in the primary market.

Weak German GDP figures helped drive a bid for Bunds on Wednesday morning, bringing a degree of stability after two weeks of volatility in eurozone government bonds.

Property developer China Resources Land (CR Land) took advantage of the recent rate cut in China to tap the equity capital market for funding with a large HK$10.1bn ($1.3bn) block on May 12. Despite the encouraging result, it was not all smooth sailing for the issuer, which saw one bookrunner leave the syndicate and its bookbuilding delayed by a day.

A pair of highly rated SSAs are set to dip into dollars on Wednesday, after two issuers had contrasting fortunes in the market on Tuesday.

The pipeline for corporate bonds is swelling rapidly, with three issuers mandating for European roadshows on Tuesday, including two from the eurozone’s periphery.

The European Financial Stability Facility took several SSA bankers by surprise on Tuesday, when it mandated for a 30 year tap in an unstable euro market.

The founder and chief executive of UK serviced offices group Regus found an opportune time to pare his holdings, raising £73.5m via an accelerated bookbuild on Monday night.

Autodis, the French car parts distributor, priced a €60m tap late yesterday, pricing the deal at 103.25 to yield 5.518% to maturity.

Stable stockmarkets on Monday May 11 were enough to tempt four sellers into the evening market tonight, with trades in three stocks, including a combined offering of new and existing shares in IMCD.