United States

US based-Novelis, part of Indian company Aditya Birla Group, has lined up a syndicate of 10 lenders to arrange an Asia loan that refinances a $1.8bn US term loan B from last year.

The Chicago Mercantile Exchange has appointed a president for clearing and post trade services, a newly created title at the firm.

IHS Markit has added CME Clearing to its MarkitSERV netting synchronisation service for cleared over-the-counter derivatives.

Philips is set complete the divestment of its lighting businesses next year, with US private equity firm Apollo Global Management agreeing to acquire its Lumileds LED unit at a $2bn valuation.

Two firms with Asian links canned their US floats this week, with InnoLight Technology Corp and Ironshore announcing they have dropped their listing plans.

Chinese e-commerce solutions firm Baozun has raised $73.5m after closing a follow-on placement multiple times covered, despite its stock having a wobbly start to the week.

Goldman Sachs printed a $3bn trade on Thursday to push dollar FIG issuance to an all-time high.

Dr Pepper Snapple and Roper Technologies jumped into what is expected to be last full week for US bond market issuance in 2016 with M&A trades that pushed corporate supply close to a new record.

Allianz announced plans to integrate other teams into its global private debt platform on Thursday. Two Allianz investment teams will join the Allianz Global Investors private debt group in January.

Rallying soybean and corn futures prices have prompted a big improvement in producer sentiment, according to a study.

Ensco, the London-headquartered offshore oil drilling contractor, has raised $750m with a popular convertible bond issue to finance a tender offer for high yield bonds due 2019 and 2020.

In yet another takeover funded entirely in the loan market, GoDaddy, the US internet domain registrar, is acquiring peer Host Europe Group (HEG) from private equity firm Cinven and raising dollar leveraged loans for the deal.