Banks
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Greentown Management Holdings Co has uploaded post-listing hearing documents with Hong Kong’s stock exchange as it prepares to launch its IPO. -
Online casino gaming company DoubleDown Interactive has set the terms for its Nasdaq IPO, preparing the first South Korean listing on a US bourse in nearly a decade.
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Region Stockholm brought social impact bonds into the mainstream European capital markets this week, with a transaction aimed at preventing people from developing diabetes. With healthcare financing top of the agenda in capital markets because of Covid-19, the deal raises the prospect that other issuers could turn to outcome-based financing. Frank Jackman and Jon Hay report.
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After making its highly anticipated debut in the international capital markets with a dollar benchmark this week, New Development Bank is looking to build a diversified funding programme, with euro and sterling-denominated bonds on the agenda for 2020. The new supranational has also set itself a target to become a triple-A rated issuer.
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Five banks and insurers from across Europe issued senior debt this week, including two in green bond format, as they tried to find opportunities in a choppy market. Athene Global Funding, Banco de Sabadell, Virgin Money, Santander and Hypo Noe all priced deals.
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Hyundai pulled into the Swiss franc bond market this week with a three-year green deal that was priced with a substantial new issue premium (NIP). Elsewhere, nuclear energy provider AKEB sold one of the highest yielding bonds of recent weeks.
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The International Development Association (IDA) has tapped the Swedish krona market for the first time as it prepares to increase its funding programme for the 2020-21 fiscal year.
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DZ Hyp managed to attract a healthy order book for a €1bn eight year deal issued on Wednesday, a day before a more narrowly subscribed €1bn 10 year from UniCredit’s German subsidiary, HVB.
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BP, the UK oil company, completed the biggest ever hybrid bond sale this week with a $12bn-equivalent debut issuance across multiple currencies, leading to rising expectations that other oil majors without hybrid debt will be entering the market too.
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Deals issued on Thursday by SR Boligkreditt and UniCredit Germany (HVB) illustrated that investor demand is skewed to bonds that offer a pick-up, no matter how small.
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The Republic of Belarus ditched euros on its return to bond markets on Wednesday, printing two dollar tranches on which it was able to ratchet pricing tighter.
