Banks

Thailand’s PTT Oil and Retail Business scooped up Bt54bn ($1.79bn) this week from the country’s largest IPO in a year. The deal was a hit with both domestic and foreign investors — but in a somewhat unusual twist, the issuer cut the entire international public book during allocation. Jonathan Breen reports.

Indonesian state-owned oil and gas company Pertamina raised $1.9bn from a two-tranche deal on Wednesday.

Cloopen Group Holding, a cloud-based communications provider, launched its New York Stock Exchange IPO on Wednesday night.

Indian renewable energy company Continuum Energy Levanter made its debut in the dollar bond market this week, more than three years after pulling its initial attempt. However, it had to offer investors incentives to seal the $561m deal, writes Morgan Davis.

A $390m loan backing CVC Capital Partners’ acquisition of Myanmar’s Irrawaddy Green Towers (IGT) was abruptly put on hold this week after political turmoil rocked the country following a military coup. Pan Yue reports.

A handful of Chinese companies managed to hit the bond market on Wednesday for new deals, ahead of not just the upcoming Chinese New Year break but also the jumbo outing launched by Alibaba Group Holding on Thursday.

The International Development Agency sold a sterling benchmark on Wednesday, raising £1bn with its second benchmark in the currency.

Whitbread, the UK hotel and pub company, enjoyed roaring demand for its debut green bond on Wednesday, as it managed to convince investors that it can plan for life after lockdowns.

Portugal was awash with demand as it came to the market on Wednesday for a new 30 year euro benchmark, following well-received syndicated deals from Belgium and Finland on Tuesday.

Telefónica, the Spanish telecommunications company, showed the depth of demand for green hybrids on Wednesday, with a seven times oversubscribed trade that came a day after a similarly successful deal from compatriot issuer Iberdrola.

Cellnex, the Spanish telecoms infrastructure company, has returned to the equity capital markets with a huge €7bn rights issue to finance its acquisition of French competitor Hivory from Altice and KKR.

Nomura said that net revenues in its investment banking business for the last three months of 2020 were the highest in nine years. Yet while it was a good quarter overall for the firm's wholesale business, revenue fell year on year in Europe, the Middle East and Africa.