JP Morgan

Styrolution, the German plastics firm, will allocate its €1.05bn-equivalent five year term loan ‘B’ on Friday, after successfully meeting its revised deadline for commitments.

Jastrzębska Spółka Węglowa, the largest EU coking coal producer, has yet to announce the size and shape of its proposed bond issue, though it finished a seven day roadshow on Tuesday - leading some to wonder if the deal was struggling to gain traction.

Korea Electric Power Corp (Kepco) has raised W855.6bn ($808m) by selling all its treasury shares via a block trade on October 23 to become the largest South Korean ECM transaction so far this year. Priced just above the lower end of the range, the deal resonated well with international investors, with demand from them alone taking books to around three times covered.

Convertible bond investors losing patience with the recent run of aggressively priced deals got some much needed relief this week when Siliconware Precision Industries tapped the market for a $400m convertible bond that priced at the investor friendly end of terms even after generating a hefty book. The trade’s success is now expected to push those companies waiting on the sidelines to take advantage of the reopening of the issuance window, writes Rashmi Kumar.

Nestlé, the Swiss foods group, on Wednesday seized the opportunity of a stable and empty market to issue a €500m seven year bond, paying a tiny new issue premium and achieving what one banker said was a record low yield.

Syndication has begun of Geberit’s Sfr1.29bn (€1.07bn) loan to buy Sanitec. The deal will be offered to banks Geberit has worked with in the past, as well as some new additions.

World Bank has been busy in local currencies this week, printing its first deal in Mexican pesos this year and doubling the size of an 11 year Kangaroo bond.

Siliconware Precision Industries tapped the equity-linked market on Tuesday night for a $400m convertible bond that went off with flying colours, ending the run of recent deals that were aggressively priced and met with a lukewarm response from investors. The trade’s success is now expected to push companies waiting on the sidelines to take advantage of the re-opening of the issuance window.

Slovenia on Tuesday was able to ratchet in pricing on a long seven year benchmark — which is for pre-funding — by 15bp from the initial price thoughts level to price with a new issue concession of just 4bp.

The Inter-American Development Bank is set to become the first issuers to test the dollar market this week, having mandating banks for a tap on Tuesday afternoon.

Jaguar Land Rover, the UK car manufacturer owned by India’s Tata Group, has launched a $500m intraday bond issue on Tuesday.

Slovenia has opened books for a long seven year benchmark bond for pre-funding purposes. It is taking the first available window after market participants had digested the results of the European Banking Authority’s comprehensive assessment — which found two Slovenian banks wanting.