Deutsche Bank
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Shanghai Electric Group Company (SEC) wrapped up its first foray into euros this week, joining a string of Chinese firms that have recently taken advantage of Europe’s low yield environment. Due to the strong demand, not only did the issuer price the deal a lot tighter than its closest comparable but it was able to ramp up the issue size. -
Guangzhou Communications Investment Group has hired two banks ahead of its first outing in the dollar bond market and will meet investors this week.
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Despite last week’s high profile and galling cancellations of two IPOs, new flotations continue to move toward Europe’s equity market, and investors are showing plenty of appetite for deals they like.
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A burst of block trades hit the European market today, most of which met eager demand, starting with a daytime deal to raise new capital for DCC, the Irish sales, marketing and distribution group, which is buying a French fuel business from Shell.
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Michelin, the French tyre maker, issued its first bond since 2012 on Tuesday. While the issuer drew good demand for seven and 12 year euro bonds, a proposed 30 year tranche failed to gain traction with investors.
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Investors have fought back against the tide of leveraged loan repricings, forcing printing ink maker Flint Group to keep pricing at the wide end of guidance on its €1.5bn transatlantic deal.
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Shanghai Electric Group Company (SEC) has started taking bids for what will be the company’s debut euro-denominated bond.
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Hyundai Innocean and Mirae Asset Life Insurance have passed their respective listing hearings with the Korean regulator, adding a dash of excitement to what has been a quiet period in Korea’s IPO market so far this year.
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McDonald’s Corp fell victim to a lack of demand for long dated euro bonds on Monday. It was forced to pull the 20 year component of what had been planned as a four tranche deal.
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Adecco, the Swiss recruitment and employment agency, highlighted strong demand for corporate bonds in the eight year part of the euro curve on Monday.
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Indonesian airline Garuda Indonesia has mandated 15 banks to arrange its first dollar outing, which will be in sukuk format. Roadshows will take in the Middle East, Asia and Europe.
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