JP Morgan

The Kazakhstan sovereign printed its $2.5bn dual tranche bond on Monday, finally sating demand that had built for the country’s bonds over the last decade and re-pricing the curves of its quasi-sovereign borrowers. Leads built an $11bn book for the bond despite pricing inside emerging markets behemoth Brazil and being the first ever sovereign to adopt ICMA’s full range of recommendations for a collective action clause.

Merck & Co, the US pharmaceutical company, launched its first bond in euros for seven years today, just days after its €1.5bn deal from 2007 had matured. With markets recovering after a queasy time last week, the €2.5bn issue was widely seen as a success by rival bankers.

German ball bearing producer Schaeffler has launched a €1.8bn-equivalent six year term loan ‘B’ to refinance debt raised earlier this year.

Mobile phone maker Xiaomi’s $1bn dual tranche loan has netted commitments from seven lenders that made it in time for the loan’s early bird deadline in general. These banks will earn an early bird fee of 15bp for getting commitments in by October 6.

Kazakhstan released price guidance for 10 and 30 year bonds on Monday morning and expects to print the $2bn deal, eagerly anticipated for nearly a decade, later today. Bankers are expecting the absence of Russia from international bond markets this year to intensify demand.

The world’s ninth largest reinsurer, Korean Reinsurance (Korean Re), is close to making its debut in the debt capital markets having started meeting investors for a proposed US dollar subordinated capital offering on October 6. If it goes ahead it will become only the secodn Asian insurer to issue sub debt offshore.

There's no end to Chinese companies seeking US listings, with eHi Car Services looking to raise $100m from an IPO on the New York Stock Exchange.

Indonesian telecom tower operator Solusi Tunas Pratama is firming up a more than $800m financing to back its purchase of 3,500 towers for Rph5.6tr ($460.5m) from Axiata Group Berhad subsidiary XL. The proceeds of the fundraising will also be used in part to refinance existing debt.

Adidas, the German sportswear maker, issued its first bond for five years on Wednesday. The company’s rarity, high perceived credit quality of around the single-A level and very strong brand name should have made this a triumphant deal, but in the treacherous conditions of this week it was a mess.

Adidas, the German sportswear maker, issued its first bond for five years on Wednesday. The company’s rarity, high perceived credit quality of around the single-A level and very strong brand name should have made this a triumphant deal – but in the treacherous conditions of this week it was a mess.

Tele Columbus — Travelport — Lindorff — Certeum

Bestway, the privately owned UK groceries wholesaler, has tightened pricing on £725m of loans amid high demand. The financing is for its £620m acquisition of the Co-operative Group's pharmacy division.