Bank of America

Indonesia industrials are returning to the dollar bond market with MAXpower Group and Tower Bersama Infrastructure readying new deals.

Terna, the Italian electricity grid company, sold a €1bn seven year bond last Friday, profiting from strong demand after the announcement of European quantitative easing on Thursday, January 22, to price with a minimal new issue premium.

India’s Aurobindo Pharma has received the go-ahead to raise up to $350m from a qualified institutional placement (QIP) of shares, following an extraordinary general meeting held this week.

The prospect of a new wave of European equity issues has risen with Thursday’s aggressive package of European Central Bank quantitative easing. The announcement triggered a strong rally in eurozone equity indices, supporting the dozen IPOs already launched in Europe this year.

Tele Columbus has priced its IPO in Frankfurt, the first of the year in Europe. The German cable company’s sale has been a success, and was priced at €10 a share, the midpoint of the €8-€12 range, and the top of the revised range.

SIG Combibloc, the Swiss drinks carton maker, has launched the long-awaited €2.265bn loan backing its acquisition by Onex, in the largest European leveraged takeover financing of the year so far.

US corporate new issues have plunged to multi year lows as issuers shrug off strong demand due to the cost of carry. Even Thursday’s confirmation of European Central Bank quantitative easing, which opened the floodgates for FIG issuers, could not move corporate borrowers off the sidelines.

Dominican Republic harnessed investor appetite for long dated Latin American debt to bulk up its 10 and 30 year dual tranche offering to a record $2.5bn. While the leads declined to disclose the order book’s final size, it was comparable with the $8bn Mexico attracted to its similar deal last week.

Italian electricity company Enel has priced a €1.46bn 10 year bond, to be issued to the holders of six shorter dated bonds, after 25% of the investors accepted an exchange offer.

International bond investors welcomed back Reliance Industries for the first time in two years as the Indian conglomerate priced a $1bn 10 year offering on January 21. The deal notched up a number of landmarks, being the first Indian credit to come to market in 2015 and achieving the lowest coupon ever for the issuer in the offshore market.

Tele Columbus is on the verge of pricing its IPO, the first of the year in Europe. The German cable company’s sale has been a success, and will be priced at €10 a share, the midpoint of the €8 to €12 range, and the top of the revised range.

SIG Combibloc, the Swiss drinks carton maker, has launched the long-awaited €2.265bn loan backing its acquisition by Onex, the largest European leveraged takeover financing of the year so far.