Bank of America
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The public sector dollar market on Wednesday showed that it had more than enough depth to cope with a pair of issuers bringing deals in the same maturity with just a basis point of difference in initial price thoughts, as both trades came in size and at tightened pricing. Another agency is set to dip into the demand on Thursday. -
Two SSA borrowers will go head to head in the dollar market on Wednesday, bringing five year benchmarks with only 1bp difference in initial price thoughts.
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China’s Maoyan Entertainment has changed the timetable of its HK$2.7bn ($344.2m) IPO and roped in three new cornerstone investors, including smartphone giant Xiaomi Corp.
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Takeaway.com, the Dutch online food ordering company, hit the market on Thursday night with its pre-announced sale of new shares and convertible bonds to fund its €930m acquisition of Delivery Hero’s German operations. Both tranches of the trade attractive significant demand.
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CMB Wing Lung Bank, the Hong Kong-based subsidiary of China Merchants Bank, has printed the year's first Basel III-compliant additional tier one note from Asia, taking $400m from a deal that was priced well inside analysts’ view on fair value.
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China-based Maoyan Entertainment, best known for its online movie ticketing platform, kicked off bookbuilding on Friday for a HK$2.7bn ($344.2m) IPO.
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The new-look Fox Corp made its dollar bond debut this week as the technical backdrop in the investment grade continued to improve with tightening spreads and thinner new issue concessions.
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Diego De Giorgi has left his post as global head of investment banking at Bank of America Merrill Lynch, less than four months after his boss and close ally Christian Meissner was ousted as head of corporate and investment banking (CIB) at the US bank.
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The Province of Ontario will this Friday be the fourth SSA from Canada to visit a very strong dollar market this week, after CPPIB Capital printed on Monday, Alberta on Tuesday and the sovereign made a rare visit on Thursday. Dexia Crédit Local also printed in the currency on Thursday and SSA bankers are confident of more supply next week.
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A year on from selling its first green hybrid bond, French energy company Engie returned to sell another with a slightly longer call date. Demand for the product has remained strong, but the difference in coupons showed how pricing has changed despite the borrower paying virtually no premium over the company’s secondary bonds.
