Citi
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Investors cheered Hon Hai Precision Industry Co’s first convertible bond (CB) issue in seven years this week, cramming in $3bn of orders into the $500m deal. That pent-up demand, along with the Taiwanese iPhone parts maker’s own strong equity and credit, meant it could get away with aggressive terms. John Loh writes. -
Fibabanka has shelved plans for an inaugural senior dollar bond despite signs of a recovery in Turkish bank paper.
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Taiwan-listed Hon Hai Precision Industry Co is in the market with an up to $500m currency-linked convertible bond, breaking a seven year absence from equity-linked issuance.
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Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, has allocated its $250m loan. The deal is scheduled to sign next week.
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Indonesia’s Chandra Asri Petrochemical opened books for its first offshore dollar deal on Monday morning, following a roadshow last week.
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Crystal International Group raised HK$3.8bn ($489.5m) with its Hong Kong IPO after pricing the shares near the wide end of terms on Thursday.
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The Asian bond market opened with elation on Friday, following China’s blockbuster dollar transaction on Thursday that reset the curves not only of Chinese issuers, but for the rest of Asia as well.
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After several months without any long end dollar benchmark bonds from public sector issuers, two came along at once this week — bolstering confidence that conditions are right for a borrower to print in jumbo size in the tenor for the first time in more than two years.
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Wind Tre, the Italian telecoms group, delivered Europe's largest ever high yield bond issue this week, a €7.3bn deal that has raised the bar for the market and led to expectations that more sponsors will follow suit amid heady investor demand.
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