Bank of America
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Everbright Securities has priced its Hong Kong IPO in the upper half of the marketing range, raising HK$8.62bn ($1.11bn). -
The dollar market for public sector borrowers is showing remarkable disdain for bankers’ summer holiday plans, with a trio of deals printed across the curve during the usually quiet days of August. But this week’s long dated deals are unlikely to signal jumbo 10 year dollar benchmarks’ return from a long vacation.
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Asian Development Bank (ADB) this week became the first supranational issuer to print a dual tranche green bond. But opinion was mixed as to whether such an approach will catch on.
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uarantor: Financial Market Stabilisation Fund of the Federal Republic of Germany
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Everbright Securities braved the summer slowdown this week to seal Hong Kong’s fourth $1bn-plus IPO of 2016. Investors turned up for the deal, but to secure its success Everbright followed its peers in placing a large chunk of the float with cornerstone investors. Although eye-catching, the move did not dampen demand, with orders covering the book throughout its pricing range. Jonathan Breen and John Loh report.
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Jamaica announced initial price thoughts of 7% for a reopening of its 8% 2039 bonds on Wednesday as it looks to raise funds to finance a tender offer for its 2017s and 2019s.
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One of the longest running and most painful sagas in global leveraged finance came to an end this week when high yield investors on Wednesday accepted Veritas Technologies’ €600m-equivalent secured seven year non-call three senior bond eight months after it was first launched. Victor Jimenez reports.
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FMS Wertmanagement printed $2bn of bonds on Wednesday for the first time since November 2013 and only the fourth time in its history, as rampant demand in the currency showed no signs of letting up.
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European equity capital markets remain muted ahead of what many participants expect to be an extremely busy autumn window. Yet in London, there is one live deal of substantial size progressing steadily towards completion.
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Ghana bought back $100m of its outstanding 2017s on Tuesday after postponing a new issue last week which was due to finance a much larger buy-back. Ghana’s bonds have since rallied, bringing the country’s borrowing costs down substantially, according to a fixed income investor.
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Caribbean island nation Jamaica is planning to issue a new long dated bond to buy back short term debt on Thursday as it looks to take advantage of highly liquid new issue markets and the strong performance of its existing bonds.
