Bank of America
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Korea Expressway pulled its dollar bond before the US open on October 27 after it realised it was not going to achieve its target price. Bankers were frustrated and said that a decent trade could have been done at a higher yield, but the issuer was not willing to pay up. -
Chinese casual restaurant chain, Xiabuxiabu, has filed a preliminary prospectus with the Hong Kong Stock Exchange. The company aims to raise between $100m and $200m, a banker close to the deal said.
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Chilean copper Codelco led the way on a busy Tuesday in LatAm bond markets with a 30 year issue that came tight to its own curve and showed that investors are comfortable the US Federal Open Markets Committee will not spring any surprises regarding rates increase at its meeting on Wednesday.
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Hutchison Whampoa showed off its impeccable access to bond markets today by selling dollar and euro bonds in the same day, and raising $5.4bn with heavily oversubscribed books.
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The UK Debt Management Office was able to attract its largest order book in an ultra-long syndication during an hour long book build on a tap of the 2068 Gilt — despite the tap coming at a sub-3% coupon and following weeks of volatility in the Gilt market. The deal leaves the UK DMO with one syndication left this financial year.
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Jaguar Land Rover, the UK car manufacturer owned by India’s Tata Group, has launched a $500m intraday bond issue on Tuesday.
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Korea Expressway pulled its dollar bond before the US open on Monday night after the issuer realised it was not going to achieve its target price. Bankers are frustrated and say that a decent trade could have been done at a higher yield, but the issuer was not willing to pay up.
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Hong Kong giant Hutchison Whampoa is tapping the offshore market only for the first time this year and is looking to issue in both US dollars as well as euro via two separate deals.
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The Islamic Republic of Pakistan’s $816m divestment of some of its stake in Oil & Gas Development Company (OGDCL) is now on track for early November, after a local court order that halted the sale was dismissed by the Supreme Court.
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Korea Expressway Corporation, China Travel Service (CTS) and Tewoo Group are all out in the market with new dollar bonds. The Korean government related issuer (GRI) was last seen in April this year and adds to a relatively busy month for Korean issuers. CTS, on the other hand, has not been in the market since 1996.
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Government-owned Chilean oil company Empresa Nacional de Petróleo (Enap) could make it four new issues in four business days for Chilean corporates on Monday after E-CL ensured LatAm bond markets ended the week on a high with its long-awaited new issue on Friday.
