JP Morgan

ING is set to leap into the post-Easter market for its first additional tier one deal, looking to add to a recent hot streak for subordinated paper.

Taiwan’s TPK Holding raised $384m from a simultaneous convertible bond and placement of shares, this week, bringing welcome relief to the equity-linked drought in Asia ex-Japan. The overwhelming investor response and solid aftermarket performance proved there is a hunger for paper, writes Rashmi Kumar. But the market is only open for the right names at the right terms, bankers warned.

Hong Kong-listed Brightoil Petroleum has pulled a HK$776.75m ($100.19m) block deal after launch, with the company saying the trade was not in its best interests.

The post-Easter deal pipeline began to fill on Wednesday, with ING mandating banks to arrange investor meetings ahead of its debut additional tier one trade.

Two big loans to back European acquisitions by Asian borrowers have underscored the strong appetite in the region for outbound M&A. But the deals may not help syndicated loan volumes in Asia. They are likely to be mostly sold into the European market, where there has been pricing compression, writes Shruti Chaturvedi.

Swiss company Holcim has shed its stake in Siam City Cement to net Bt22.15bn ($679m), via a bookbuilding process that ran from March 26 until last weekend, as key investors took their time placing orders.

Tinkoff Credit Systems has bought back $80m of its 2015s, impressive considering Tinkoff’s bonds have rallied along with the rest of the Russian Eurobond market, according to bankers.

Liberty Global’s subsidiary UPC Broadband Holding BV on Wednesday priced a €1.1bn dual currency senior secured offer, which some high yield bankers saw as confirmation of a stable, busy pipeline.

Talgo, the Spanish train manufacturer, looks set to finally launch its Madrid IPO, four years after first floating the idea.

Azelis, the chemicals distribution business formed from the merger of Novorchem and Arnaud, is closing books on its €240m acquisition loan today.

The AA’s traditional investors on Friday helped the UK car breakdown insurance company price £735m of class ‘B’ notes inside price guidance.

Tata Motors will open books on its nine-for-109 rights issue next month signing up a whopping nine banks to lead the deal. If the issue raises the targeted Rp75bn ($1.2bn) it will rank as India’s second largest ever rights issue.