Credit Suisse
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The established order is profiting from a sharp rebound in French M&A volumes. Those playing catch-up may not be so lucky, writes David Rothnie. -
Rabobank was set to follow the example of fellow Dutch lender ABN Amro by selling floating rate Swiss franc debt at the short end of the curve on Wednesday. By selling notes with a maturity just shy of two years the bank is expected to be rewarded with strong demand from money market funds.
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Credit Suisse and ING both hit the senior market with new issues on Tuesday drawing hefty order books for euro deals. While Credit Suisse offered a juicy premium to guarantee success, ING was able to gather almost as many orders at what bankers away from the deal saw as a tight level.
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Credit Suisse’s Brian Kim will be joining the bank’s Asia Pacific DCM syndicate desk in Hong Kong. Kim, a vice president, will be transferring from DCM originations.
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E-commerce giant Alibaba revealed the identities of its much-hyped 27-person partnership on June 16 as the pieces are finally starting to come together for one of the most hotly anticipated IPOs of the year.
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The retail tranche for Chinese microfinance company Hanhua Financial Holding’s $232m IPO failed to garner a strong reception during bookbuilding, which closed last Friday. But a solid response from institutional investors helped push the deal through.
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Finland’s Pohjola Bank is set to return to the Swiss franc market after a three year absence on Monday, with the issuer’s rarity in the currency allowing it to double its minimum size ambitions as investors flocked to buy the seven year paper.
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Four more banks have signed up to Giant Interactive’s $850m five year leveraged buyout loan, taking total commitments to $260m.
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Telecommunications giant Telekomunikasi Indonesia (Telkom Group) raised Rph2.59tr ($219m) on June 12 by selling 1.08bn treasury shares.
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Pakistan raised Pkr38.2bn ($388m) on June 12 by selling its entire stake in United Bank, the country’s second largest public sector lender.
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Gates Corp - M7 Group
