BNP Paribas

Asia’s bond markets have remained resilient despite a Federal Open Market Committee meeting this week and rising concerns about the UK referendum on European Union membership. With deal flow building up for next week, bankers said Asian issuers stand to benefit from volatility in Europe, writes Narae Kim.

Taiwanese green technology firm Giga Solar Materials Corp wrapped up its debut dollar convertible bond this week, raising $110m on Tuesday. For its first visit to the equity linked market in nearly two years, the low profile issuer had to provide a 100% asset swap to entice investors, writes Jonathan Breen.

The EM bond market has churned out deals this week despite US Federal Open Markets Committee meeting and fears of the UK leaving the EU disrupting sentiment.

Taiwanese green technology firm Giga Solar Materials Corp raised $110m on Tuesday with its debut dollar convertible bond, its first visit to the equity-linked market in nearly two years.

Abu Dhabi National Energy Company (Taqa) has released initial price guidance for a dual trancher in a choppy market, while Qatari telco Ooredoo has chosen to wait.

Taiwan’s Giga Solar Materials has launched a $100m convertible bond with an option to increase the size by up to $25m.

Louis Dreyfus Commodities Asia is seeking a $500m revolver and is offering the same pricing as it did on its last loan. This is despite its parent's income before tax having halved in 2015, compared with the previous year.

Otto, the unrated German online retailer, issued a €250m bond on Friday, which a banker on it said showed the resilience of demand by private wealth management-type investors, on a day when a more conventional, institutionally driven investment grade deal might have struggled as those investors watched screens turn red.

Two new borrowers launched deals in the European high yield market on Monday, PVH and Salini Impregilo. Both are double-B rated, like most of last week’s deals.

Spanish elections and narrowing polls on the UK's referendum on EU membership are taking their toll on bank debt markets with a sole Nordic covered bond out to keep investors entertained on Monday.

Indonesian state-owned oil company Pertamina is understood to have lined up seven banks for a $1.5bn five year fundraising.

Investors’ thirst for stock in Dassault Aviation, the maker of Mirage and Rafale fighter jets, was evident last March when Airbus sold €1.76bn of it in a block trade. It was clear again on Thursday night when Airbus launched a two-pronged monetisation of its entire remaining 23.6% stake.