Citi
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South African chemicals and energy company Sasol has released initial price thoughts on a dual tranche dollar bond on Thursday morning in London.
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Al Ahli Bank of Kuwait revived its AT1 on Wednesday, having postponed the deal following a roadshow in March this year. But a modest deal size priced in the middle of final guidance left bankers away from the deal saying appetite did not look overwhelmingly strong.
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BOC Aviation made its fourth dollar market outing of the year on Wednesday, locking up $500m from a tightly priced floating rate transaction.
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Chinese hotpot chain Haidilao International Holding pulled off top-end pricing for its HK$7.56bn ($963.3m) Hong Kong IPO this week, wooing institutions with its unique story. But the lukewarm response from retail investors is being viewed as a blessing in disguise for allocations — and hopefully for the stock’s aftermarket performance. Jonathan Breen reports.
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Mapletree Logistics Trust sealed its second overnight fundraising for the year and its largest follow-on offering in a decade on Wednesday, bagging S$375m ($274m) to acquire properties in Singapore.
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Islamic Development Bank printed its $1.3bn five year Reg S sukuk on Wednesday inside its own curve.
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Two Samsung-linked units are selling down their remaining shares in Samsung C&T Corp through an accelerated block that could raise as much as $829m.
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Dollar investors gave public sector issuers something to think about on Wednesday, as a pair of SRI bonds had very different receptions. One aggressively priced deal struggled to reach full subscription while another offering some concession grew by a half. World Bank is up next in the currency, though in conventional format, and bankers believe the trade will indicate the market’s direction.
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The National Bank of Oman hit screens on Tuesday, raising $500m of five year paper in a market still hungry for more Middle Eastern supply.
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The Islamic Development Bank’s five year sukuk trade appears to be meeting with a warm response, allowing the leads to pull in the spread by several basis points.
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China Merchants Bank Co Hong Kong branch has sold a dual-tranche transaction worth $800m, tapping into both the fixed rate and floating rate investor bases.
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Two state-owned companies from Shenzhen and Sichuan managed to woo investors to their dollar bonds on Tuesday, thanks in part to the strong credentials of their respective provinces.