Bank of America
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E-commerce based Baozun Inc is seeking an IPO on the Nasdaq to raise $200m, in what will be the first US listing of a Chinese technology firm exceeding $100m since December 2014. -
Transport for London on Friday added to a burgeoning green bond market in sterling by selling its inaugural deal in the format at a level inside initial price thoughts.
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Investors welcomed the return of Industrial Bank of Korea (IBK) in the dollar bond market on April 16, happy to get their hands on one of the less active policy banks. Pleased with the quality of the order book and the pricing level, the issuer decided to increase the size to $700m.
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China Cinda Asset Management’s latest deal proved that when it comes to bonds, it does not always have to be a choice between size and prize. The bad debt manager hit the market with a jumbo $3bn dual trancher on April 16 — the third largest non-sovereign dollar bond from Asia ex-Japan this year — and managed to do so by pricing inside its curve.
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The first quarter numbers of the biggest US investment banks show that the right kind of volatility is back in the market, as divergent central bank policies pushed investors to take a view.
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The European high yield market this week was in ebullient mood as borrowers left behind the Easter holidays and brought a wide variety of deals to market.
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While the public sector bond market in euros faces uncertainty, dollars is providing borrowers with a haven for issuance.
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JP Morgan and Goldman Sachs followed in the footsteps of European banks by tapping the dollar market for tier one capital this week, exploiting investors’ thirst for yield.
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After a quiet start to European block trade activity in the week after Easter, deals began in earnest this week, with five substantial selldowns of companies floated in the past two years, and then a €198m trade in Abertis on Thursday evening.
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UBS, Bank of America Merrill Lynch and JP Morgan are tonight selling a 1.34% stake in Abertis Infraestructuras, the Spanish construction and concessions company, to hedge a derivative transaction with Obrascon Huarte Lain.
