Deutsche Bank
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Insurance companies saw a favourable window of opportunity this week to sell subordinated debt. Assicurazioni Generali, Crédit Agricole Assurances and CCR Re benefited from the supportive backdrop to raise tier two bonds. -
Bohai Bank wrapped up a billion-dollar-plus Hong Kong IPO this week. The issuer, one of China’s last remaining joint-stock commercial banks to go public, rode the tail end of a hot period for the city’s IPO market. Jonathan Breen reports.
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Studio City Finance restructured its debt portfolio with a $1bn bond sale on Wednesday.
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Property managers Zhenro Services Group and Greentown Management, along with developer Ganglong China, all priced IPOs this week, albeit with different responses from the market.
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Chinese property companies Kaisa Group Holdings, Yango Group Co and Overseas Chinese Town (Asia) Holdings raised a combined $1.5bn from their bonds on Wednesday.
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Deutsche Bank has created a new coverage model for its public sector business, which will be headed up by Panos Stergiou, global head of macro coverage.
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Central and Eastern European commercial real estate operator NEPI Rockcastle issued a green bond on Tuesday, attracting new investors to its debt.
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China Bohai Bank is set to price its Hong Kong IPO around the bottom of the marketed range on Thursday to net HK$13.7bn ($1.77bn), according to a source close to the deal.
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The European Financial Stability Facility kicked off its third quarter funding in style as it raised 80% of its borrowing needs for the quarter flat to its sister issuer’s curve. Elsewhere in the euro market on Tuesday, Cyprus saw decent demand as it tapped its 2024s and 2040s.
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Investors piled into KfW’s first dollar benchmark in six months on Tuesday, allowing the issuer to break the order book record for SSA dollar benchmarks.
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Property developer Modern Land (China) Co has returned to the green market with a $250m bond.
