UBS

Romania-focussed Globalworth Real Estate Investments drew support from a variety of investors for its debut bond, which included a large cornerstone order from a financial institution, to price a €550m deal at 3% on Monday.

Metro Pacific Investments Corp (MPIC) launched a trade on Tuesday evening designed to reduce its direct stake in Manila Electric Co (Meralco) while boosting its indirect holdings.

Shui On Land priced its senior perpetual bond on Monday in a busy primary market in Asia ex-Japan. The $500m trade was multiple times covered, as demand for perps continues to be strong in the region.

Korea East West Power Co (EWP) broke back into the market after a three year hiatus, grabbing $500m from a five year bullet on Monday.

Covering four tranches, two currencies and fixed and floating rate payouts, what could be the largest high yield bond since April 2016 hit screens on Monday as Intrum Justitia embarked upon a week-long roadshow for a €3bn bond.

Globalworth Real Estate Investments, a fund which focuses on Romania, was out on Monday with guidance for its debut five year benchmark after a roadshow prolonged by European holidays.

Korea East West Power Co (EWP) opened books for a dollar deal at the Asia open on Monday, making a comeback to the debt market after a three year hiatus.

Shui On Development (Holding) has become the latest Asian issuer to announce a senior perpetual bond, while Brightoil Petroleum (Holdings) has hired two firms to work on an offshore outing.

Many equity market participants thought the wave of big European bank recapitalisations was beginning to wind down, until Santander surprised the market on Wednesday by announcing a €7bn rights issue to recapitalise Banco Popular, its failed domestic rival, after agreeing with European regulators to buy the bank for €1.

Chinese property developers are increasingly looking at 364 day bonds as a way to sidestep approval delays from the National Development and Reform Commission, after Fantasia Holdings Group Co sold a $350m public note this week. Short-term bonds offer a quick fix for borrowers, but there are concerns over whether this is sustainable in the longer run, writes Addison Gong.

Celltrion Healthcare has firmed up the price range for its up to W1tr ($897m) flotation on South Korea’s Kosdaq, with bookbuilding set to kick off in mid-July.

Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon.