JP Morgan

A merger of the coffee businesses of DE Master Blenders and Mondelez International, backed by €7.5bn of debt, could take up to 12 months to complete, prompting some investors to question whether returns on financing the deal are worth the wait.

New Zealand’s ASB Bank returned to the euro senior market with its first senior deal in the currency in almost three years on Wednesday. The issuer was rewarded with a tight spread over Australian parent, Commonwealth Bank of Australia.

Three Latin American borrowers started roadshows with bond investors this week as bankers’ predictions that the football World Cup would lead to a slowdown in new issue activity were proven false.

Greenland Global Investment on Wednesday became the first issuer to price a bond with a cross border guarantee under China’s recently revised rules. But discrepancies over the most relevant comparables meant that not everyone was confident that pricing came at the right level.

A merger of the coffee businesses of DE Master Blenders and Mondelez International backed by €7.5bn of debt could take up to 12 months to complete, prompting some investors to question whether returns on financing the deal are worth the wait.

Indian telecoms giant Reliance Communications raised Rs48bn ($800m) on June 25 via an increased qualified institutional placement that had plenty of investors putting in large orders.

UK insurer Phoenix Group started a roadshow and is expected to bring its debut bond next week. With the pipeline quiet, bankers away from the trade welcomed the deal, though warned that the lack of a credit rating would create discussion among investors.

Carlson, the US hospitality and travel company, wants to raise $360m to partially finance the acquisition of the 45% stake JP Morgan holds in Carlson Wagonlit Travel.

New Zealand’s ASB Bank returned to the euro senior market with its first senior deal in the currency in almost three years on Wednesday. The issuer was rewarded with a tight spread over Australian parent, Commonwealth Bank of Australia.

Greenland Global Investment brought to market on Wednesday the first bond with a cross border guarantee under China’s revised rules for the credit enhancement feature. The property company is offering a dual tranche five year and 10 year dollar deal.

Grupo Bimbo’s presence in the packaged bread market is so strong in parts of Latin America that when you want sandwich bread at a supermarket or café you ask for “pan Bimbo”. Based on Tuesday’s evidence, investors agree that Bimbo bonds are the best thing since someone thought to cut their loaves before selling them.

Chilean power generation company Colbún will begin investor meetings on Friday ahead of a possible 144A/Reg S bond, 10 months after it postponed previous bond issuance plans blaming market conditions.