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DM Wenceslao and Associates has trimmed the maximum offer price on its IPO of up to Ps10.73bn ($227m) to Ps25 from Ps44, as it gears up to launch and price the deal in the coming weeks.

Thailand’s Star Petroleum Refining successfully wrapped up its Bt13bn ($365m) IPO on Thursday. But while the trade was oversubscribed, it decided not to go ahead with an increase and greenshoe option.

Korea Development Bank (KDB) returned to the Singapore dollar bond market on November 26, bagging S$200m ($142m) from a three year deal. The offering marks the Korean policy bank’s third offshore outing in just one week, following deals in Australian dollars and offshore renminbi.

Chinese conglomerate HNA Group ventured into the dollar bond market on Thanksgiving and managed to raise $250m from a two times covered book.

SinoPac Securities has signed a $120m three year bullet loan, netting commitments from a group of roughly 15 lenders.

In this round-up, ANZ launches free trade units in the Shanghai FTZ, RMB deposits drop in Macau and Taiwan, ECB and PBoC complete testing of swap line, JP Morgan starts RMB money market fund transfer solution, and China might begin a RMB fund in collaboration with CEE countries. Plus, a recap of our top stories this week.

Banco Nacional de Desenvolvimento Econômico e Social (BNDES) has bought back $640m of senior unsecured notes at a discount, taking advantage of sub-par dollar prices and its strong cash position to reduce its debt burden.

The arrest of BTG Pactual’s chairman and chief executive dragged the Brazilian banking sector into the Petrobras corruption investigation this week, as bond market participants said fears were running high that Lava Jato would uncover even more skeletons in the closet.

International banks are queueing up to claim environmental credit for their actions, ahead of the UN Climate Talks in Paris (COP 21) this weekend. The new commitments cover agreements to lend more to renewables, less to coal, and to invest more of their liquid asset portfolios in green bonds.

Solvay, the Belgian chemical company, enjoyed the benefit of the European corporate bond market's blistering return to form this week, when it raised €3.25bn of hybrid and senior debt for its acquisition of Cytec Industries.

SEB Germany offered the lowest ever yield for a primary covered bond when it issued a three year public sector Pfandbrief on Tuesday. But some sort of positive return was necessary, even if it was minuscule.

Attendo, the Swedish healthcare provider, was expected to stop taking orders for its Stockholm initial public offering on Friday November 27, having achieved a heavily oversubscribed book.