Bank of America
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The IPO of Consol, the South African glass bottle maker, has been pulled on the last day of bookbuild. The seller blamed difficult markets and said it had not been able to achieve its “valuation objectives”. -
Anglo American Platinum, the biggest producer of platinum in the world, has sold a a 6.5% stake in Royal Bafokeng Platinum to finance its commitment to a joint mining venture in South Africa.
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Kommunalbanken has circulated initial price thoughts of 5bp area over mid-swaps for a no-grow $1bn three year benchmark, a level that bankers away from the trade said was 'well priced'.
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The Nordic Investment Bank paid 'flat to 1bp' of new issue premium on Tuesday as it brought an environmental bond in in the seven year area — which bankers are calling the 'sweet spot' of the euro curve.
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Sok Marketler, the Turkish discount grocer, has set the range on its Istanbul IPO, valuing it at Tl6.9bn (1.7bn) to Tl8.3bn ($2.05bn).
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A flash of public sector SRI bond issuance last week heated up on Monday, as Nederlandse Waterschapsbank found a strong reception for an affordable housing bond and Nordic Investment Bank prepared an environmental offering in a tenor that bankers said was attracting strong demand.
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State-owned Punjab National Bank has appointed three firms to lead the IPO of its life insurance arm in India later this year, according to sources close to the deal.
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China’s Envision Energy Overseas Capital Co grabbed $300m from a green bond on Thursday after weeks of wooing investors. But price discovery posed a challenge because of renewable companies coming under pressure recently.
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A pair of supranationals helped bolster Hong Kong’s green bond ambitions with some SRI deals this week.
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KommuneKredit took a novel approach to its sterling issuance on Tuesday, adding a switch operation to print its largest ever new issue in the currency. Bankers believe other issuers may use the tactic. Meanwhile, Bank Nederlandse Gemeenten (BNG) received less interest in a sterling trade of its own.
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Public sector bankers lined up to laud a new SSA borrower this week, as the International Development Association (IDA) surpassed expectations on its bond debut. Now, many are eager to see the its next move, with many anticipating a Washington supranational with greater currency flexibility, writes Craig McGlashan.
