Deutsche Bank

A pair of highly rated SSAs are set to dip into dollars on Wednesday, after two issuers had contrasting fortunes in the market on Tuesday.

Dutch speciality chemicals firm IMCD and shareholder Bain Capital together netted €328m on May 12 through concurrent primary and secondary share offerings, priced without a discount.

DP World’s $500m no-grow five year bond is already seven times subscribed. Price guidance has been tightened to 160bp over mid-swaps, plus or minus 5bp.

Stable stockmarkets on Monday May 11 were enough to tempt four sellers into the evening market tonight, with trades in three stocks, including a combined offering of new and existing shares in IMCD.

Würth, the leading maker of screws and other fastenings, opened the week’s corporate bond issuance in Europe with Monday’s sole corporate deal, drawing a solid order book at a skinny new issue premium.

A pair of core eurozone agencies are set to dip into the short end of the dollar curve on Tuesday, but more issuance could come further out the curve.

J Sainsbury, the UK supermarket chain, has refinanced a trolley of loans, removing covenants and securing the loans on its properties, after announcing its worst earnings for a decade last week.

Delachaux, the CVC-owned French railway track maker, is working to close books on its €690m loan repricing this Monday, with a second cut in the deal’s margin.

Solusi Tunas Pratama (STP), the Indonesian telecom tower firm, is putting its Rph3.91tr ($302.24m) share sale on ice until markets regain their composure, with bankers choosing to err on the side of caution as Indonesian equities stumble.

DP World, the Dubai-based global container ports operator, has released price guidance for a dollar benchmark five year bond at 180bp over mid-swaps.

Ghana National Cocoa Board (Cocobod) has entered the early bird senior phase of its annual loan, according to bankers involved in the deal.

Egypt’s Integrated Diagnostics Holdings rose 26% on Wednesday, its first day of trading in London, and has risen a further 11% since then, after the firm priced its massively popular rebooted IPO.