Banks
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Zhenro Properties Group sold a short dated bond worth $220m on Thursday, adding further momentum to Asia’s growing green market. -
Anjuke Group, a Chinese real estate services platform that is backed by high profile investors like Tencent Holdings, Warburg Pincus and General Atlantic, is seeking approval for a Hong Kong IPO.
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UBS has hired Bryan Kuo as a director on its debt capital markets syndicate team.
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Chinese department store operator Golden Eagle Retail Group has closed a $601m-equivalent refinancing loan with 15 lenders.
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Marvell Technology, the Bermuda-registered US chipmaker, jumped into the dollar bond market this week with a $2bn trade linked to a $10bn acquisition, after clinching the deal more quickly than expected.
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Debt markets are awaiting a wave of mergers and acquisition financings in the second quarter and later this year, as the boom in deals sparked by confidence that the economy is recovering from the coronavirus gathers steam. But the eagerness to lend will create tension between loan and bond markets, and deals are likely to get more challenging later in the year, write Mike Turner and Jon Hay.
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Esoteric names from the FIG market are expected to fill the post-Easter issuance pipeline to take advantage on the constructive market conditions on offer.
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Commercial Bank of Qatar kicked off the second quarter with its first Swiss deal of the year. It was joined by New York Life, which raised Sfr475m as it benefited from its two triple-A ratings.
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Portugal syndicated a new 10 year bond on Wednesday, and drew parallels to deals from Italy and Spain deals earlier in the year as it aimed for a small new issue premium and an high quality order book rather than one of colossal size. But in order to avoid huge drops in the book by slashing the spread, as Italy and Spain had done, Portugal began the price discovery process at a tight level.
