BNP Paribas
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Agile Property Holdings is looking to raise HK$2.785bn ($359m) from a one-for-five rights issue, becoming the third Chinese property developer to opt for this form of equity raising in just the past month. -
Reliance Industries’ telecom arm Reliance Jio Infocomm launched its $1.5bn dual facility refinancing loan into general syndication on Friday, after cementing a mandated lead arranger and bookrunner group with 15 banks.
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International Finance Corp became the largest issuer of London-listed renminbi bonds this week, as it priced its second benchmark in the currency this year. The deal came after the UK government announced plans to issue a debut renminbi bond.
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Royal Bank of Canada and Toronto Dominion returned to the dollar covered bond market this week, taking the number of benchmark issues in the currency this month to four. The two $1.75bn triple-A five year deals priced at 27bp and 29bp over mid-swaps, respectively. While the two deals became joint largest dollar deals this year, it was RBC’s deal was the tightest in dollars for several years.
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A trio of SSA borrowers squeezed into a narrow window of issuance this week to enjoy exceptionally strong conditions in dollars. Origination bankers will be beating at the doors of any funding officials that still have work to do this year to persuade them to mandate for next week and take advantage.
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Dutch credit insurer Atradius sold its first bond for 10 years on Tuesday, a long-dated subordinated note. Scor, another rare issuer, is in the market for a sub trade of its own in the near future, mandating banks to arrange investor meetings for a dual tranche deal denominated in euros and Swiss francs.
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Danske Bank opened books on Wednesday on a triple A rated five year euro benchmark following up its its seven year sterling transaction early last week. A solid book build blew away concerns over a soft credit market and a series of upcoming potentially disruptive events.
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Gemalto, the French internet security company, launched its first bond issue today, raising €400m at attractive terms, as it finances its $890m acquisition of SafeNet.
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Gemalto, the French internet security company, launched its first bond issue today, raising €400m at attractive terms, as it finances its $890m acquisition of SafeNet.
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Taiwan Cement Corp has sealed its dual tranche loan at $1.07bn, higher than the launch size of $1bn, with 14 banks joining the four original mandated lead arrangers and bookrunners in general syndication.
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Chong Hing Bank’s $300m additional tier one (AT1) bank capital issue is attracting plenty of attention from fixed income investors, with bids crossing the $500m mark just 90 minutes after books opened at 9am on September 18.
