Citi
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Bulgarian Energy Holding, the 100% government-owned Bulgarian electricity and gas holding company, has printed a €150m tap of the €400m 3.5% 2025s it sold in June. -
Pintec Technology Holdings is gauging investor appetite for its IPO on the Nasdaq ahead of roadshows that are expected to start next Wednesday.
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Bulgarian Energy Holding, the 100% government-owned Bulgarian electricity and gas holding company, is returning to the bond markets for a tap of the €400m 3.5% 2015s it sold in June.The BEH tap will be only the third public Eurobond printed in the CEEMEA market this month — the other two were a Lietuvos Energija green bond in euros and an Angola tap in dollars.
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Hope Education Group’s Hong Kong IPO has been swamped by investors, with the HK$3.2bn ($408m) fundraising covered across the price range by Tuesday evening.
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Chinese e-commerce start-up Pinduoduo is set to price its US listing at the top of guidance after a flurry of demand towards the end of its roadshow, according to a banker working on the deal.
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Apparel maker TCNS Clothing is set to price its Rp11.24bn ($163.5m) IPO at the top of guidance, almost entirely thanks to institutional investor demand, according to a source close to the deal.
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Hope Education Group launched its Hong Kong IPO on Monday. The company is hoping to raise up to HK$3.2bn ($408m), with one cornerstone investor already in the bag.
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Two Chinese technology firms listing in the US have been hotly received by investors, with both well covered since their launches earlier in the week.
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Aakash Educational Services is seeking approval to float for Rp12bn ($173.9m), filing a draft IPO prospectus with the country’s market regulator on Thursday.
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Management at Goldman Sachs and Morgan Stanley used second quarter earnings calls to reassure investors about their exposure to leveraged loans, under questioning from RBC Capital Markets’ Gerard Cassidy, as fears grow about leverage levels and weak covenants.
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Concerns from some fund managers about the terms of Altice’s new €2.5bn-equivalent bond were swamped by orders from other investors eager to bag single-B paper with a big coupon from a core high yield issuer. After a series of successful investor push-backs on deal terms, the debt laden French telecom proved this week that borrowers still can walk away with loose covenants, writes Victor Jimenez.
