Mizuho

Brazilian mining giant Vale is continuing its liability management efforts, with a tender offer for up to $1.75bn of two bonds maturing in 2021 and 2022, having already decided to exercise its right to redeem all of its 2020s.

Abu Dhabi Commercial Bank has named leads for its first publicly distributed dollar bond for three years.

Spanish telecoms company Telefonica has announced the sale of its latest hybrid new issues while also tendering for several of its outstanding hybrids. After over a month since the last benchmark euro hybrid issue, investors contributed to a large order book.

China Eastern Airlines Corp has raised ¥50bn ($468m) in Tokyo’s Pro-Bond market, breaking new ground in Japan with a standby letter of credit (SBLC) structure. Some bankers reckon the deal could be the first of many to come.

French property company Gecina started its funding programme for 2018 with a €500m 12 year offering on Wednesday after selling €2.5bn of bonds in 2017.

Tata Sons is poised to end a decade-long absence from the syndicated loan market when it launches a $1.5bn transaction later this month.

Hyundai Capital America raised $800m from a dual-tranche issuance on Wednesday, the same day that chemical giant China National Chemical Corp walked away with more than $6bn from the market.

Investors this week showered orders on to the first bond issue from Teva Pharmaceuticals since a recent downgrade to high yield ratings. The hook? A 50bp-100bp premium over its old bonds in the secondary market.

Fresh doubt has been cast on whether the record-breaking $100bn loan package for US chip maker Broadcom will come to fruition, after a US national security committee took the unusual step of issuing a public warning against the acquisition that the funds will finance.

Abu Dhabi-based Union National Bank has distributed more than 50% of its $500m five year bond outside the Middle East, bucking the recent trend for more locally distributed bonds, according to a banker on the deal.

Tata Sons could launch a $1.5bn borrowing within the next two weeks, as the Indian firm prepares its return to the syndicated loan market after a decade.

Union National Bank has tightened price guidance on its benchmark dollar five year bond.