Deutsche Bank
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Singapore’s HRnetGroup will be pre-marketing a S$150m ($107m) Reg S only IPO until the end of May, according to sources close to the float. -
Emmanuel Macron’s election as French president last weekend was the catalyst for a flood of revved up euro deals this week, with issuers and investors aiming at the long end of the curve as the biggest known political risk in Europe this year passed with a market-friendly outcome. Craig McGlashan reports.
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Digi Communications, the fast-growing Romanian telecoms and media group, has successfully completed a €190m IPO, the first from the country this year, despite being hit during the bookbuild by news that some of its senior executives were being investigated for bribery and money laundering, and the fact that voting rights remain controlled by the founder.
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Public sector borrowers in the euro market on Thursday focused their attentions on the long end of the curve, but not every trade made it to full subscription.
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Australian billionaire James Packer unwound the last of his position in a Macau joint venture with Hong Kong scion Lawrence Ho this week. Packer raked in $1.2bn from an unusually structured deal that included a $337m block trade, capturing the attention of Asian and US investors. Jonathan Breen reports.
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Bright Scholar Education Holdings had covered its $150m US IPO as of Monday, according to bankers arranging the deal.
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Hong Kong developer Cheung Kong Property Holdings (CKP) and Chinese company Huachen Energy Co both opened books for new dollar deals on Thursday.
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Argentine energy company Capex and Mexican financial Unifin showed that conditions were as strong as ever in Latin American bond market as both high yield names notches blow-out new issues.
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The European Financial Stability Facility has sent requests for proposals for a trade next week, as a pair of rare issuers on Wednesday placed deals flat to or through fair value in a euro market buoyed by Emmanuel Macron’s election as French president last weekend. Longer dated trades — of which the EFSF has sold several this year — also look to be back on the table for borrowers.
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Chinese mobile phone maker Xiaomi is sounding out lenders to refinance a $1bn dual tranche borrowing raised three years ago.
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Nomura has hired a veteran of Latin American bond markets as a managing director as it looks to build its business in the region.
