UniCredit

The third largest takeover is on. Brewer SABMiller has agreed to be bought by Anheuser-Busch InBev for £68bn, in a deal that shows continued investment confidence in Africa — one of the main attractions of SABMiller for InBev, which is weak in the continent — bucking the trend of pullback from emerging markets.

Kuka, the robotics and automation company headquartered in Augsburg, Germany, has issued a €250m Schuldschein note.

Swiss commodity trader Gunvor is building momentum for around $1bn of refinancing loans, with commitments due by the end of the month.

It was just like the good old days in emerging market bonds this week despite the IMF's best attempts to spread doom and gloom. Riding the crest of a wave of supply though were the first Russian corporate deals longer than a year since 2013 — and how investors dived in. Francesca Young reports.

SSA borrowers shrugged off a hiccup by the Province of Ontario this week to issue a series of strongly supported benchmark euro deals.

Gazprom has ratcheted in price guidance for its euro denominated benchmark, as it looks to print the second Russian corporate bond this week after a drought that started in November 2014.

The Euro corporate hybrid bond market has evolved exceptionally well since 2013, reaching a total market size of circa €85bn as of today, having become a well accepted, fairly standardised source of funding for many corporates. Featuring debt and equity characteristics alike, hybrids offer accounting, rating as well as tax benefits and create economic value for issuers. For investors, hybrids offer a welcome opportunity to diversify their investment portfolio and increase average return, but inherent risk should be eyed carefully.

The Republic of Poland printed an impressive €1.75bn six year bond on Wednesday with a skinny new issue premium, adding to the pile of successful CEEMEA bonds printed this week.

The European Stability Mechanism looks set to issue its longest euro bond to date after sending out a request for proposals on Wednesday, as the European Union mandated for a long dated tap. Meanwhile, a German state hits the spot for investors.

Poland has released price guidance for a six year euro benchmark at a level which bankers away from the deal said offers a reasonable new issue premium.

A European sub-sovereign is set to bring its shortest dated benchmark in 18 months after mandating banks on Tuesday for a four year deal.

Turkey’s Yapi Kredi Bank has named the 38 lenders in its latest $1.2bn-equivalent one year loan.