Banks
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A bulging pipeline of business is livening up the UAE’s formerly sleepy equity capital markets, after a series of eye-catching transactions in recent weeks following the biggest IPO in the area for almost three years. -
LBBW priced its first euro green non-preferred bond in two years at one of the tightest spreads of the year so far for the format, while still offering investors scope for secondary performance.
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African Development Bank and New Development Bank received ample demand in the primary dollar public sector bond market on Thursday, allowing the supranational borrowers to print chunky deals.
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The Republic of Benin launched its debut SDG (Sustainable Development Goals) bond in its second international offering of the year, following a two year hiatus. Market participants say although deals like Benin’s are getting over the line, concerns are brewing over the sustainability of high yield sovereigns tapping investors so freely.
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UniCredit’s CEO Andrea Orcel has revealed further refinements to the bank’s organisational structure that are aimed at increasing the independence of its new regional divisions.
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Tony Hayward, the former boss of BP, is joining this year’s $117bn Spac IPO market by launching a new blank cheque company on the Amsterdam Stock Exchange that will focus on energy transition.
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India’s first listing of a unicorn has started, as Zomato, a food delivery start-up, made its second day of bookbuilding on Thursday for a Rp98.9bn ($1.32bn) IPO. Droves of investors have already oversubscribed the deal, paving the way for the pipeline of technology listings to come, writes Jonathan Breen.
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US investment banks enjoyed a boost in earnings from their M&A bankers in the past quarter as a flurry of deal making made up for a return to more normal levels of debt issuance and trading.
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Anchor Hanover, the UK’s biggest retirement home company, hit the sterling market on Wednesday with a debut sustainable bond, as it continues to shift its capital structure towards socially responsible finance.
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African Development Bank and New Development Bank will add to the week’s dollar SSA bond supply on Thursday. The lack of issuance in the currency in June is helping to boost sentiment in the market despite a rocky rates backdrop.
