Citi
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Bahrain’s Oil and Gas Holding Company (Nogaholding), which is 100% state owned, is looking for seven year funding. -
Lebanon’s Blombank on Friday issued $300m of debt but the deal was most likely locally placed, according to international investors, who did not get involved because it offered no spread over Lebanon’s sovereign curve.
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Ping An Healthcare and Technology priced its HK$8.8bn ($1.1bn) IPO at the top of guidance after a flood of demand from local and international investors.
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Indonesian property company Bumi Serpong Damai returned to the debt market on Monday for a quick $50m tap to its $250m 7.25% 2021 bond that was sold last week.
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Real estate developer Vinhomes has launched bookbuilding for its D31.8tr ($1.4bn) listing, set to be Vietnam’s largest equity offering to date.
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Energo Pro, a hydro power plant operator and electricity distributor in Bulgaria, Georgia and Turkey, opened books for its €250m bond issue at 4.5%-4.75% on Friday, higher than the low to mid-4% it originally indicated.
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South Korea’s SK Lubricants has withdrawn its up to W1.6tr ($1.5bn) IPO after failing to get the desired valuation, according to a filing with the country’s financial regulator on Friday.
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A resurgence in demand for short end paper lured a succession of financial institutions to the dollar market with bank level trades this week.
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Three CEE new issues are in the works: Bulgarian Energo Pro is hoping to print its bond as soon as Friday, Hungarian fertiliser company Nitrogénművek is looking to issue €200m with a new euro seven year non-call three bond, and Wizz Air has received its first ever credit rating, a likely precursor to a bond issue.
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The London and Johannesburg listing of Vivo was covered today, two days after launch, good news for African equities after South African bottle producer Consol had to pull its IPO.
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Two issuers with double-B ratings, Darling Ingredients and Avast, achieved substantial financial cost savings with repricings this week, as pricing for top rated paper still looked attractive despite a recent uptick in spreads.
