Banks
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Prosus, the Dutch online consumer and investment company, has mandated banks for dollar and euro bonds. Investors will need to contend with a firm that reported strong full year results up to the end of March but has issued warnings that the coronavirus pandemic has taken its toll since. -
Ukraine returned to the international bond market on Thursday to issue the Reg S/144A 12 year bond that it pulled just weeks ago when its central bank governor resigned right after it was priced.
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Ant Group is planning a dual listing in Hong Kong and Shanghai that will value the company at as much as $200bn. Bankers say the mega listing will be a ‘shot of adrenaline’ for the two stock exchanges, creating a surge of liquidity that will enable more companies to follow suit. Jonathan Breen reports.
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Asian Development Bank offloaded chunks of Thai energy companies B.Grimm Power and Gulf Energy Development this week, raising Bt9.6bn ($303.9m).
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Philippine conglomerate San Miguel Corp sold its first perpetual dollar bond on Wednesday, returning to the debt market after a seven year hiatus.
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Reports that the European Central Bank (ECB) could ask banks to suspend dividend payments until the end of 2020 sent subordinated debt higher and stocks lower this week.
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Smaller loan loss provisions and high capital ratios have helped Nordic lenders to kick off European bank earnings season in a positive fashion. But analysts are cautious about drawing any conclusions for the rest of the sector.
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Singaporean commodities company Trafigura has returned to the loan market for its annual borrowing, seeking a $1bn-equivalent dual-currency deal.
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Hipgnosis, the UK intellectual property and song management company, has again increased the size of its revolving credit facility since first signing it earlier this year, weeks after the firm raised £236m through an equity raise.
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GLP, a Singapore-headquartered global logistics facilities provider, sold a Rmb2bn ($286m) Panda bond on Wednesday. The company, once a frequent issuer in the onshore renminbi market, returned after a long absence.
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Investors were unfazed by State Power Investment Corp’s (SPIC) move to tighten pricing on a $1bn bond by 52bp. The Chinese company’s deal was six times oversubscribed at its peak, and only tightened further in the secondary market.
