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Equity capital markets transactions have halted almost entirely for the summer, but preparations for the autumn’s deals continue apace.

The Lebanese sovereign is planning to issue a request for proposals in September for a dollar benchmark, according to bankers familiar with the borrower’s plans.

China's second currency devaluation in two days caused a sharp sell off in equities and bonds on Wednesday, keeping BNP Paribas from launching its debut dollar additional tier one (AT1).

Akbank will use only a 367 day tranche for its $1.3bn second refinancing of the year, with at least three other Turkish banks following suit on deal tenor and 75bp all-in pricing.

Medical Properties Trust, a US Reit, has proved that there is life in the European corporate bond market, even in the depths of August, by launching today a €500m deal, bringing to fruition a roadshow it held as long ago as May.

European banks decamped to the dollar market this week as that in euros showed signs of seasonal slowness, Meanwhile, BNP Paribas’ debut dollar additional tier one (AT1) is being delayed by a China related sell off.

The renminbi could be set to fall another 6% before it finds a bottom, onshore China FX traders told GlobalRMB on Wednesday, after two days of the biggest devaluations in the currency for decades. The daily fix fell 1.86% on Tuesday and a further 1.62% on Wednesday, to 6.3306, but traders said that it could hit 6.70 before finding a bottom.

Dongfeng Peugeot Citroën Auto Finance Co has increased the size of its latest loan to Rmb1bn ($158m) from a launch size of Rmb800m, as 14 banks piled in during general syndication. The borrower’s strong market position helped whip up interest, according to bankers.

A second day of weakening in the People's Bank of China (PBoC) fixing of the onshore renminbi (CNY) by 1.6% on August 12 saw analysts divided between seeing the new fixing system as a positive step for the reform agenda while also warning that sharp and rapid depreciation of the RMB did not bode well for the currency's global appeal.

Since adjusting its currency fixing process on Tuesday, the People's Bank of China (PBoC) has overseen the biggest two-day depreciation in the yuan in more than two decades. HSBC has described the CNY swap market sell-off as counterintuitive — and sees current elevated rate levels as an opportunity, writes Maia Ririnui of Total Derivatives.

Ukraine’s sovereign debt restructuring, Argentinian primary elections and a potential Turkish coalition government are keeping debt bankers alert while the primary bond market takes its summer break.

Malaysia’s Johor Corp (JCorp) has fixed the pricing of its Al-Salam Reit IPO at MR1 ($0.25) per unit, with bookbuilding scheduled to begin at the start of September.