Citi
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Adani Electricity Mumbai used a sustainability-linked bond to raise $300m, as the energy company transitions to more renewable power. -
Four public sector borrowers received strong receptions in the primary US dollar market this week, with a lack of supply in the currency over the last few weeks overriding volatility in US Treasuries.
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Leasys, an Italian car rental company, and similarly rated commercial property investor Lar España Real Estate competed for investor attention on Thursday with debut green deals, in a major test for the type of esoteric issuers that typify the slower summer market.
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African Development Bank and New Development Bank received ample demand in the primary dollar public sector bond market on Thursday, allowing the supranational borrowers to print chunky deals.
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The Republic of Benin launched its debut SDG (Sustainable Development Goals) bond in its second international offering of the year, following a two year hiatus. Market participants say although deals like Benin’s are getting over the line, concerns are brewing over the sustainability of high yield sovereigns tapping investors so freely.
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India’s first listing of a unicorn has started, as Zomato, a food delivery start-up, made its second day of bookbuilding on Thursday for a Rp98.9bn ($1.32bn) IPO. Droves of investors have already oversubscribed the deal, paving the way for the pipeline of technology listings to come, writes Jonathan Breen.
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US investment banks enjoyed a boost in earnings from their M&A bankers in the past quarter as a flurry of deal making made up for a return to more normal levels of debt issuance and trading.
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African Development Bank and New Development Bank will add to the week’s dollar SSA bond supply on Thursday. The lack of issuance in the currency in June is helping to boost sentiment in the market despite a rocky rates backdrop.
