BNP Paribas
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Xinyi Energy Holding, a Chinese solar power producer, has hit the road to begin drumming up interest in its up to HK$4.4bn ($564m) IPO, according to a term sheet seen by GlobalCapital Asia. -
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European corporate bond investors showed they were hungry for paper on Thursday, despite the gloom infecting equity markets this week about the prospect of a restart to the China-US trade war. A flurry of issuers came to the market, hot from roadshows, and got plenty of over-subscription while slashing their spreads by 20bp to 30bp.
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Ireland set a new order book record when it issued a curve-extending long 30 year bond on Thursday.
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Eagle Hospitality Trust extended bookbuilding for its Singapore IPO twice because of market jitters following US president Donald Trump’s tweet this week about Chinese trade tariffs, according to a source close to the deal.
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Xinyi Energy Holdings, an owner and operator of Chinese solar farms, has received a boost on its second attempt at listing on the Hong Kong Stock Exchange.
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The strength of corporate bond demand, after falls in stockmarkets engendered by the US's hardened stance on trade talks with China, will be tested in the US on Wednesday by a $20bn issue for IBM. In Europe, the test could come on Thursday, since a handful of issuers finished roadshows on Wednesday.
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Ireland appointed banks on Tuesday for its second syndicated bond of the year, which will extend its euro benchmark curve to 2050 (31 years).
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Eagle Hospitality Trust has cut the floor of the initial price guidance for its Singapore IPO, hiking up the yield for investors while delaying the end of its roadshow, according to a source close to the deal.
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Watches of Switzerland Group, the largest retailer of luxury watches in the UK, is exploring an IPO on the London Stock Exchange to cut its debt and allow its private equity owner Apollo Global Management to sell down some of its shares in the company.
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BNP Paribas recorded a sharp rise in revenue in its fixed income, currencies and commodities trading (FICC) operations during the first quarter, it said on Thursday. Other European investment banks have registered relatively good scores on this front so far this reporting season, with the exception of Deutsche Bank.
