Mizuho

Two A-rated corporates went head to head in the euro corporate bond market on Monday as UK pharmaceutical giant GlaxoSmithKline and US electrical systems manufacturer United Technologies Corp both launched triple-tranche deals, with two matching maturities, which totalled €4.5bn.

Birla Carbon, part of Indian conglomerate Aditya Birla Group, is targeting its relationship banks for the senior syndication of a $1.2bn borrowing.

GlaxoSmithKline added to the crush of red hot dollar bond supply this week, as borrowers began a spring stampede to lock in funding ahead of a likely rate rise next month.

Mizuho Americas said it had hired five people on its high yield sales and trading desk, as the firm looks to beef up its leveraged finance capabilities, alongside larger plans to build out its US investment bank.

German chemicals supplier Lanxess found a surprising lack of demand for its first bond issue since September 2016, which sent bankers scrambling to re-examine their plans for next week's burgeoning corporate pipeline. Lanxess's struggle comes as new issue premiums and how far deals tighten through the bookbuild are being increasingly scrutinised as the market begins to imagine life in the European corporate bond market without the safety net of quantitative easing. Nigel Owen reports.

On Wednesday, German chemicals supplier Lanxess found a surprising lack of demand for its first corporate bond issue since September 2016. Onlookers suggested this is was not a good sign with a heavy pipeline building for future weeks.

ICBC Financial Leasing broke the silence in Asia’s offshore bond market on Tuesday, returning with a popular $1.5bn dual-tranche floating rate transaction that served as a reminder of just how enthusiastic investors can get when there is the opportunity to hedge away interest risk.

India’s Reliance Jio Infocomm has launched the biggest Samurai loan from an Asian company into general syndication, as it looks to leverage on Japanese onshore liquidity.

Stanbic Bank Kenya has signed a $100m dual tranche loan as lenders prepare for more deals from sub-Saharan Africa’s financial institutions.

Export-Import Bank of Thailand is meeting investors this week ahead of a new dollar bond transaction, its first in nearly eight years.

Sweeping US tax code reforms could have a big impact on banks with intermediate holding companies in the US, perhaps forcing them to fund from the IHCs directly, rather than from their parent companies.

Turk Eximbank on Thursday* opened books on a new six year bond following the Central Bank of Turkey’s decision to hike rates by 75bp the day before.