Deutsche Bank
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Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets. -
Logan Property Holdings Co made a quick venture into the market on Thursday to use the remainder of its offshore issuance quota for the year. The typically price-sensitive issuer willingly left something on the table for investors this time around to ensure their support in 2019.
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Eurofima, the supranational institution which finances European rolling stock, took advantage of the strong market conditions on Monday to sell a well oversubscribed debut green bond.
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At least three high-grade borrowers in the US bond market stood down on Thursday as supply windows snapped shut and scotched hopes of a final flurry of supply before year end.
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German business software company SAP used its rarity value when it printed a €1.5bn triple tranche deal in March. However, that strategy may no longer be possible, after it sold the largest ever corporate bond priced in December to help fund its recently announced €8bn cash acquisition of experience management software provider Qualtrics.
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The Republic of Indonesia seized an opportunistic window after the G20 summit to raise $3bn in its annual dollar funding exercise. While the issuer’s timing was impeccable, it was still forced to pay a double-digit premium to attract cautious investors. Morgan Davis reports.
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Three Chinese education companies have ventured out for new loans, adding a dash of diversity to the syndication market. But they come at a time when lenders are increasingly conservative about the sector, owing to stricter regulations and amid concerns around borrowers’ financial performance, writes Pan Yue.
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The US and Hong Kong IPO markets saw a raft of companies trying to catch the last window for their listings before the year end, as the short-lived rally from the US-China trade war ceasefire did little to reassure ECM bankers and investors, writes Christie Ou.
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Policy lender China Development Bank printed a dual-currency, three-tranche transaction on Tuesday, raising $2.4bn-equivalent. While it paid just a couple of basis points of new issue premium for the dollar bonds amid a short-lived market rally, demand for the euro portion exceeded expectations.
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The Republic of Indonesia managed to raise $3bn across three tranches of notes in its annual dollar funding exercise, but paid a double-digit premium to attract investors cautious about the sovereign credit.
