Citi
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US coatings manufacturer Axalta priced its $875m dual currency offering on Tuesday as it brought this week’s second cross-border bond, at pre-Brexit pricing levels. -
Ascendas Real Estate Investment Trust’s S$155m ($114m) overnight share sale proved to be hot property as the deal was six times covered and was priced at the top of its expected range — at a mere 1% discount.
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Johnson Control’s automotive business, Adient, on Monday began a roadshow for $2bn-equivalent of high yield notes, with a 17 strong group of bookrunners.
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Ghana is on the road this week for its first standalone bond since 2014. The government will use the new issue to buy back its $500m 2017s as part of its push towards "smart" debt management. In a market where yield is king, bankers expect the deal to go well, despite concerns about the country's widening budget deficit.
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Singapore’s Ascendas Real Estate Investment Trust has launched an accelerated bookbuild of new units worth up to S$155m ($114m) to fund acquisitions in Australia and for its local projects.
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Export-Import Bank of India took the 144A route for the first time as it builds up its track record in the debt market. It was a masterstroke move for the issuer, as it got away with top notch pricing and saw US investors taking more than 60% of the notes.
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Home building materials maker China Lesso Group Holdings will likely increase the size of its latest borrowing, thanks to a good response during general syndication.
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South American sovereign Ecuador this week demonstrated its ability to raise new debt despite a challenging economic outlook but analysts said the government’s rate of debt issuance was unsustainable.
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Chilean state-owned oil company Empresa Nacional de Petróleo (Enap) will look to tap the bond markets next week to fund a buyback of existing debt as Latin American companies continue to turn to tender offers just as often as the new issue market.
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Citigroup has issued on Thursday an unusual €374m bond, exchangeable into shares of Telekom Austria, as part of a deal that enabled América Móvil to reduce its stake in the company, fulfilling an earlier promise, without suffering a big fall in the share price.
