Daiwa Securities
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Japan Bank of International Co-operation and the Municipal Finance Authority of British Columbia gave investors more ways to invest their stacks of dollars on Thursday, though syndicate bankers say the pent up demand for bonds in the currency is still far from satiated. -
Nordic Investment Bank funding officials considered printing its $1bn bond this week inside its curve before deciding against the ruse in order to support secondary trading, with Japan Bank of International Co-operation next in line to test the vast demand for five year dollar bonds.
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Viva Biotech Holdings has pulled off an impressive HK$1.52bn ($194m) Hong Kong IPO, striking retail gold as the local public swamped the deal, grabbing half of the stock for themselves. The high level of retail interest is a rarity for IPOs in the city and something that is often unwanted, bringing potential wild price swings to a stock soon after listing, say some bankers. But others foresee enough institutional demand to swallow any bulk selling in the first days of trading. Jonathan Breen reports.
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Syndicate bankers are expecting Kangaroo issuance to wane as the Japanese market shuts down this weekend for an extended holiday and Australia’s inflation outlook worsens.
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China’s Shenwan Hongyuan Group Co launched its Hong Kong IPO on Thursday, seeking upwards of $1.3bn from the sale.
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Eurofima, the supranational institution that finances European rolling stock, is planning to print another new benchmark sized deal towards the end of the year.
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Swedish Export Credit joined the growing ranks of public sector issuers that have priced bonds though its curve this week when it printed a $1bn 2021 bond with a negative premium.
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The Province of Quebec came “significantly” through fair value in its $1bn five year trade on Tuesday, as the issuer was able to take advantage of rarity in both its own name and SSA dollar issuance.
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The dollar market is expected to provide just a handful of deals this week, with a benchmark for the Province of Quebec and a short dated floater for Eurofima up first.
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Chinese state-owned investment bank Shenwan Hongyuan Group kicked off pre-marketing on Monday for its Hong Kong IPO.
