Credit Suisse
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China’s Qinghai Provincial Investment Group Co was forced to pay up around 75bp in new issue premium to complete a $250m bond on Friday, as investors voiced their scepticism about the low rated issuer. -
Baidu-backed video streaming platform iQiyi kicked off bookbuilding for its $2.38bn US listing on Monday and was covered quickly.
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Credit Suisse has named Sergio Morita as Ashish Sharma’s replacement to helm the loan syndications desk in Asia Pacific, according to an internal memo seen by GlobalCapital Asia.
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Credit Suisse has put two emerging markets DCM bankers at risk.
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Two central and eastern European corporates announced euro trades on Friday, adding to a busy pipeline of emerging markets deals.
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The going was heavy for dollar borrowers as investors demanded extra concessions amid poor performance as CVS Healthcare’s trade from the previous week appeared to re-price the market.
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Financial institutions stretched the appetite of bond investors to breaking point this week, flooding the euro market with nearly €15bn of deals, which struggled to perform in secondary despite carrying large new issue concessions.
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The day after a jumbo corporate bond issue is often a quiet one for new issuance as investors digest their allocations and assess the impact on secondary spreads. But after Sanofi's €8bn offering on Wednesday, Thursday was another bumper day.
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Gategroup, the Swiss airline catering company, has opened the books on its Sfr1.3bn IPO on the SIX Swiss Exchange, valuing the company at Sfr2.6bn at the top of the range.
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China-based GreenTree Hospitality Group has kicked off bookbuilding for an up to $349.2m IPO on the New York Stock Exchange, according to a filing with the US market regulator.
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DoubleDragon Properties Corp is nearing the launch of its first post-IPO liquidity event, which has been in the works for half a year.
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Tikehau Capital, the French alternative investment manager, has committed a €250m order for the IPO of DWS Group and has initiated discussions on potential cooperation between the two firms, including on alternative asset management distribution.
