Deutsche Bank
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China Aoyuan Property Group raised a larger than planned $225m from a tap of its existing note on Monday, but had to pay up for the transaction. A Chinese local government financing vehicle (LGFV), on the other hand, fell short of its size expectation.
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SSA borrowers are streaming into the euro market, flooding the early part of the week with deals in an effort to secure funding before a slew of central bank meetings towards the end of the week.
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Medical diagnostics firm Unilabs launched a benchmark size extension of its loan debt on Monday, as a range of investors clamour for paper despite issuance volumes running ahead of last year’s record pace.
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Unrealistic pricing expectations are keeping two EM corporate issuers by the wayside after volatile markets forced Atrium to cancel a tender offer combined with a new issue last week.
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Deutsche Bank is losing its head of Asia equity-linked business, with Keyvan Zolfaghari set to leave the firm for Goldman Sachs.
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In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.
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KfW opened the door for dollar issuers after a quiet few weeks in the currency, although the issuer — and SFIL, which followed it — had to navigate some price discovery after last week’s Italy-led volatility.
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The tone in Europe’s corporate bond new issue market continued to strengthen on Thursday, as two issuers came to market and achieved strong sales, despite a wider market that worsened during the day.
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Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.
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SFIL followed KfW into a reopened dollar market this week with only its second ever dollar benchmark, while engaging in a bit of price discovery that leads said was “spot on”.
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Puxin and VCredit Holdings, both of which launched IPOs earlier this week, were covered on their first day of bookbuilding.
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Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.