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Russian steel company TMK has launched a consent solicitation for its $500m 6.75% 2020s with the purpose of removing IPSCO Tubulars, its US based subsidiary, as a guarantor on the notes. An investor in London said that he expects bondholders to agree to the changes.

With the benchmark corporate bond market pausing ahead of Thursday’s European Central Bank meeting, Deutsche Bank has sold its second sole-led sub-benchmark deal of the week — a €150m 10 year new issue for the property subsidiary of Casino, the French retailer.

Abu Dhabi Crude Oil Pipeline, a wholly owned subsidiary and strategic asset of Abu Dhabi National Oil Co. (Adnoc), has released initial price thoughts on a $3bn dual tranche senior unsecured bond and intends to print the note on Thursday.

Poland’s Bank Gospodarstwa Krajowego (BGK) printed a €750m long 10 year bond on Tuesday from a book of more than €1.1bn and with only a 3bp new issue premium.

Russian gold miner Petropavlovsk has mandated four banks for its debut in the international bond markets, a dollar benchmark.

In CEEMEA bonds, investors are lapping up high yielding paper, with one investor pointing to last week’s Eurotorg deal, which traded up as high as 101.25 this week, as particularly demonstrative of the desperation for yield.

China’s Ministry of Finance (MoF) has criticised international credit rating agencies for their rating downgrades in a statement on October 24, in which it also explained its rationale for issuing the country’s first dollar bond since 2004.

Turkish Fibabanka is heading off on a roadshow on Wednesday to market a five year dollar denominated bond. But with Turkish bank levels still elevated after local press reports that some Turkish lenders could be fined billions of dollars by the US for violating sanctions on Iran, the bank and its leads are hoping for a rally before pricing.

Mazoon Electricity Company is embarking on investor meetings for a dollar Reg S/144A sukuk.

Poland’s Bank Gospodarstwa Krajowego (BGK) released price guidance on a 10.5 year benchmark bond on Tuesday morning in London at a level that bankers away from the deal said looks fair.

The economic dialogue between Beijing and Washington could determine how far and fast China will allow foreign ownership to expand in its banking sector, according to Jing Ulrich, vice chairman of Asia Pacific at JP Morgan.

The Shenzhen Stock Exchange (SZSE) wants Panda bond issuers to raise RMB funding in Shenzhen for Belt and Road projects, the governments of Guangdong, Hong Kong and Macau plan new scheme to allow greater use of renminbi in the region, and the Moscow branch of Industrial and Commercial Bank of China (ICBC) becomes an interbank FX lending member.