JP Morgan

Enel, Italy's leading power company, announced on Wednesday that it would issue a benchmark 10 year bond in an exchange offer for up to €5.5bn of existing bonds, as part of a liability management exercise. The transaction is meant to extend Enel's maturity profile.

America’s biggest bank had a rough fourth quarter in 2014 and continues to face regulatory uncertainty over its size, but JP Morgan’s chief executive Jamie Dimon says the bank will continue to grow as part of its strategy to deliver shareholder value, unless regulators force it to do otherwise.

Tunisia has picked banks for a 144A/Reg S conventional dollar deal and starts investor meetings on Friday. The lead manager line-up contains some of the same banks that were attached to a debut sukuk the sovereign had intended to launch in 2014. But that transaction — although still planned — has been delayed while Tunisia tweaks its sukuk legislation, said debt bankers.

Export Import Bank of Korea (Kexim) staged a successful return to the international debt market on January 12, selling a SEC registered dual tranche deal that drew over $6bn of demand. Amid high levels of volatility since the start of the new year, bankers chose a good window for the Korean issuer, which achieved its goals for size and pricing.

Investment grade corporate bond issuance soared on Wednesday with a €1.75bn ($2.03bn) dual tranche deal from Toyota Motor Credit; benchmark bonds from Iberdrola and Evonik; and debuts from US Reit WP Carey, and UK charity the Wellcome Trust. In total, €4bn of bonds were issued.

Bank of America Merrill Lynch, JP Morgan and Morgan Stanley traded on Wednesday evening a block of shares in Spire Healthcare Group, the UK private hospital company.

Duration is for the second time this week the choice for a periphery eurozone sovereign, after Italy mandated banks for a 30 year benchmark on Wednesday. But there was more woe for Greece at the very short end, as yields on its 13 week bills rose by 25bp at auction.

US real estate investment trust WP Carey issued a €500m eight year bond on Wednesday, continuing the 2014 trend of non-European companies selling bonds in the currency.

Huhtamaki, the Finnish producer of food and drink packaging, signed a €400m five year revolving facility last week. The company sold its plastic films business in December and is consolidating its business into food packaging.

Evraz, the Russian steel and mining company, has closed the tender offer on its 2015 notes after investors accounting for $278m of Evraz's $576.7m 2015 notes agreed to a company buyback of the note.

State-owned coal supplier China Shenhua Energy successfully issued its maiden offshore bond market on January 13, fetching $1.5bn across three tranches. The size of the offering was relatively large for a debut issuer although weak commodities prices meant the company had to fork out a new issue concession.

Tele Columbus today started building the book for its Frankfurt IPO, having set the price range at €8 to €12 a share on Monday.