Banks
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Shanghai-listed WuXi AppTec has launched pre-marketing for its Hong Kong IPO, which is expected to hit the market by the end of the month, according to a banker close to the deal. -
A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.
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Indonesian motorcycle financing firm Federal International Finance (FIF) has doubled the size of its fundraising to $400m after finding support from a 22-strong syndicate group.
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Thai Oil Public Co navigated challenges around fluctuating oil prices to push out a $1bn dual-tranche bond on Thursday that was strongly supported by investors.
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The IPO plans of companies operating in the cryptocurrency sector are in limbo after Canaan, the world’s second largest maker of cryptocurrency mining equipment, let its IPO application on the Hong Kong Stock Exchange lapse on Thursday.
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Property developer Agile Group Holdings raised $400m from a two year bond at a generous level on Thursday. But the Chinese company is still faced with heavy near-term debt maturities.
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Bemusement is growing among Schuldschein lenders, as a seventh issuance platform — again created to promote efficiency — is set to be launched.
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Socially responsible investment deals were the focus of attention in the primary SSA market this week, as the World Bank and the Flemish Community of Belgium sold well-received green and sustainability bonds, respectively. Bank Nederlandse Gemeenten and Eurofima have added to the public sector SRI pipeline, which is showing no signs of slowing down as the year end approaches.
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Following an underwhelming response for a tier two from BNP Paribas this week, financial institutions that had been looking to pre-fund their 2019 issuance requirements have had to think again about the sorts of pricing levels they will be able to achieve.
