Bank of America
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China YuHua Education Corp has scooped up HK$1.5bn ($198.1m) after seeing a global turnout of investors for its IPO, according to a banker close to the deal. -
Companies were able to tighten pricing on euro deals this week, as investors said they expected the corporate market to keep shrugging off the political headline risks in Europe that have prompted widening in some government bonds.
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Yapi ve Kredi Bankasi is the first of the Turkish banks to follow a successful sovereign tap last week, and with Turkish bank debt well bid in secondaries, it will be expecting a better result than its last senior trade.
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Chinese solar power company United Photovoltaics Group grabbed investors on Monday for a $100m tap of its debut notes, managing to hit its approved $350m fundraising cap.
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China YuHua Education Corp was expected to close its HK$1.9bn ($244.8m) IPO on Tuesday as scheduled — but price sensitivity among investors meant finding the right pricing level was posing a challenge as GlobalCapital Asia went to press.
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Asia DCM has seen a steady supply of South Korean issuers so far in 2017, with Korea Development Bank becoming the latest to venture out with dollar-denominated bonds.
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Polish energy provider Energa SA is meeting investors this week for its first Polish non-financial corporate bond since June last year, which will also be the first corporate deal from anywhere in Central and Eastern Europe this year.
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India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.
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Chinese borrower United Photovoltaics Group is back in the dollar debt market for more, opening a tap of its debut three year notes on Monday morning.
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Reckitt Benckiser, the UK based health and hygiene firm, is progressing with its approach to buy US-based Mead Johnson Nutrition, with loan deals taking shape and the boards of both firms having waved through the $17.9bn transaction. The margins for Reckitt’s loans are “record low”, loan bankers involved in the transaction said, as investment grade borrowers bathe in bank liquidity.
