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Banks have prepared a high yield issue to finance Cinven's acquisition of a majority stake in Synlab Holding, the German laboratory services provider, in a market quietened by unease about Greek politics.

Bank Saint Petersburg is offering to repurchase a total of up to $50m of its $100m 10.5% 2017s and $101m 11% 2018s.

GarantiBank International, the Amsterdam subsidiary of Turkey’s Garanti Bankasi, has closed a $260m-equivalent one year loan.

Senior emerging markets bankers are hopeful the rising tension between Greece and its creditors will not halt CEEMEA bond supply over the summer.

The People's Bank of China surprised the markets over the weekend by slashing rates for the fourth time since November 2014. But the Asian dollar bond market has been paralysed on June 29, due to the spectre of a Greek default and exit from the euro. The only issuer braving the market is China Huiyuan Juice Group which opened books for a three year deal in euros that was fully covered by anchor orders.

A loan that had been in syndication since April from Hyva Global has been turned into a smaller club deal, but some lenders said weak sales in China prompted them to stay away.

Luzheng Futures Co has priced its Hong Kong IPO slightly above the middle of the range to raise around HK$900m ($116m), despite weak market conditions wreaking havoc among the investor community.

Periphery bank bonds dived on Monday as markets reacted to Greece’s slide towards the Grexit door, with FIG bankers now fearing their summer holidays will be cut short as issuers bid to avoid a September stampede.

Public sector borrowers stepped back from the market on Monday morning, preferring to watch the whipsawing volatility in the euro bond markets safely from the sidelines.

Long end trades in the medium term note market will be very difficult to execute in euros for at least a week as the possibility of a Greek default and exit from the eurozone fuels volatility.

Investment grade corporate bond syndicate bankers expect this week to be quiet, after Greece and its creditors gave up trying to reach a debt deal, but fears of a shutdown seem far away.

Equity capital markets bankers were struggling to remain optimistic on Monday, as IPOs began to be cancelled and block trades were ruled out, amid markets reeling from Greece's proximity to default.