JP Morgan

The healthy demand for Schaeffler’s three tranche bond issue on Tuesday October 21, €1.2bn-equivalent of senior secured payment-in-kind toggle notes, will help the German car parts company to cut the interest rate burden of its indebted holding company.

Lithuania printed its €1bn 12 year bond on Wednesday with 0bp-5bp new issue premium, according to a syndicate official on the trade, having built a book of €3.65bn for the bond.

China’s eHi Car Services has started pre-marketing its $100m US IPO just weeks after filing a preliminary prospectus with the Securities and Exchange Commission.

Chile-headquartered retailer Falabella sold $400m of 10 year bonds on Wednesday in a deal that LatAm debt bankers said confirmed the market was wide open as up to eight issuers from the region prepare bond issues before numbers go stale in the second week of November.

Dai-ichi Life is the latest Asian insurance company to tap the dollar market and has opened guidance on a new perpetual bond. It follows hard on the heels of Korean Re, which priced its debut bond on October 14.

Lithuania has released initial price thoughts for a €1bn 12 year bond at 115bp over mid-swaps, offering a 25bp new issue premium, in line with the pick-up offered at the same stage by Romania on Tuesday. Bankers away from the deal said that they expect 10bp-15bp of tightening before the deal prints.

Jastrzębska Spółka Węglowa started the roadshow for its dollar denominated Reg S/144A bond on Wednesday (22 October) via Credit Suisse and JP Morgan.

Korea Hydro & Nuclear Power (KHNP)’s new five year fixed rate note was six times over-subscribed on Tuesday. The Aa3/A+/AA- rated borrower offered investors something of a safe haven play amid the recent market volatility and strong demand drove pricing flat to the issuer’s existing curve.

German styrenics supplier Styrolution will extend the initial Tuesday deadline for commitments on its €1.05bn-equivalent term loan ‘B’.

Samsung SDS opened books for its W1.2tr ($1.1bn) IPO on October 20 in what is likely to become the biggest listing in South Korea since 2010. The macro environment presents numerous challenges, with the deal launching at a time when the Korea Stock Exchange Kospi Index has slipped by 3.1% since the start of the month. But if early signs are anything to go by, Samsung SDS is likely to escape unscathed by volatile markets.

Korea Hydro & Nuclear Power (KHNP) is out with guidance for its second dollar bond of the year. It priced a three year floating rate note in May.

JP Morgan showed a keen risk appetite as it jumped into the high-grade market in the thick of a global market sell-off.