Credit Suisse
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Online cosmetics marketplace operator Jumei International Holding has filed for a US debut of American depositary shares, which could be worth up to $400m. -
Crédit Agricole sold its second Swiss franc deal of the month on Wednesday, targeting the long end of the curve. The final deal was over double the issuer's target size, with bankers away from the deal pointing to an attractive premium over its outstanding debt.
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Dim sum issuance looks to be ramping up again after the Crimea crisis and noises around defaults in China led to the market drying up towards the end of March. ICBC and Guosen Securities both announced new bonds this morning.
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Online cosmetics marketplace operator Jumei International Holding has filed for a US debut of American Depositary Shares, which could be worth up to $400m.
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Taiwanese silicon wafer fabrication firm Inotera Memories has hired three banks to work on its global depository receipt transaction, which could be worth up to NT$12bn ($367m).
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Both of Thursday’s new bond issues from Latin America traded up on Friday as the rally in the region shows no signs of slowing. And bankers heard at least two new borrowers were planning deals to take advantage of strong demand for LatAm credit.
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BBVA Chile became the first triple-B rated Chilean financial to tap the Swiss franc market on Thursday, illustrating Swiss investors' increasing ease with Latin American financials.
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Anglo American priced its first dollar bond for two years on Tuesday – only the third Yankee bond this year from a UK-headquartered issuer.
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While the focus in euros this week may have been on Greece’s blowout return to the capital markets, two other issuers were able to sell successful trades of their own. The European Financial Stability Facility and Unédic breezed through seven year trades, though syndicate bankers worry that a quiet patch lies ahead with few agencies keen to issue.
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In what was an all-around impressive week for peripheral bank issuers, Allied Irish Banks and Italy’s Intesa Sanpaolo printed five year senior deals, proving investors are willing to go further out on the credit curve for longer in the search for yield.
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Dutch SME lender NIBC Bank postponed a possible Swiss franc deal this week, with investors reluctant to participate. However, Zurich based syndicate bankers were sanguine on the possibility of a return to the Swiss franc market in the near future for the issuer.
