Citi
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China Merchants Commercial Real Estate Investment Trust has kicked off a pre-deal investor roadshow for its Hong Kong SAR listing. It is set to break a six-year drought of Reit IPOs on the bourse. -
The Arab Republic of Egypt had clocked up more than $9bn of demand for its triple tranche bond trade by lunch time on Wednesday.
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One Middle Eastern bank is in the market with a sukuk additional tier one note, while a second announced it will go on the road for its own AT1.
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Alibaba Group Holdings got the greenlight from Hong Kong's stock exchange for a listing that could be worth as much as $15bn. The deal looks set to receive strong anchor demand from Chinese investors.
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AIB Group has wasted little time in accessing the debt markets for subordinated capital. It launched a tier two bond this week, little over a month after selling an additional tier one (AT1) bond, adding to its minimum requirements for own funds and eligible liabilities (MREL).
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Egypt is in market promoting a new deal: three tranches of benchmark dollar funding. Its 40 year tranche will be Egypt’s longest ever deal.
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Italian crossover credit Immobiliare Grande Distribuzione, a real estate company, has hired banks for a sub-benchmark bond issue and tender offer, as roadshow calendars remain packed with deals.
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Citigroup is forming a new EMEA sustainable banking team and has hired a senior sustainable banking expert who had spent two years away from the firm, working for a supranational.
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High grade dollar bond investors are braced for the biggest deal of the year after AbbVie, the pharmaceutical company, appointed a trio of banks to lead a possible $25bn issue that could come as soon as Monday.
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A pair of public sector borrowers hit the dollar market this week, pulling off strong deals at three and five years. Both enjoyed a clear field as euro-based borrowers stuck to their home currency thanks to an unpalatable basis swap rate.
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Investors staged a protest over pricing in the non-preferred senior bond market this week, causing one transaction to fail and putting two others at risk of falling flat. Comfortable with their returns for 2019 and happy to be able to choose from a glut of new bond offerings, funds have simply been happy to divert their attention elsewhere. Tyler Davies reports.
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