Deutsche Bank
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China’s Alibaba Group has increased the price range of its New York IPO to $66-$68 after strong investor demand, as the company looks set to become the biggest US listing ever — and possibly the world’s largest IPO. -
The Coca-Cola Co issued its first bond in euros on Monday, choosing the same path as several other blue chips recently by launching a big, dual tranche deal. This highlights the euro market’s attractiveness to international borrowers.
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Synthos SA, a leading manufacturer of chemical raw materials in Central and Eastern Europe, is meeting investors for its debut bond.
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Auto company Mitra Pinashika Mustika (MPM) priced its inaugural international bond on Friday. Offering diversification value and riding on the positive sentiment surrounding Indonesia, the five year non call three issue pulled in an order book that was seven times subscribed.
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Alibaba Group’s jumbo $21.13bn New York IPO is fully covered one week into the bookbuilding process, with the company now looking to close the deal ahead of the scheduled date. It is also considering selling the shares at higher level.
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Allocations are out for Chinese real estate company Franshion Properties’ HK$4bn ($516m) three year dual currency loan that was launched in May to back plans for listing its hotel assets on the Hong Kong Stock Exchange. The deal took a while to close as the borrower’s sector was not a popular one among lenders, said bankers.
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Ghana's lead managers defended what looked like a low multiple of oversubscription on the sovereign's Thursday $1bn bond deal as they released the final book size, pointing to the quality of the orders received.
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ICICI Bank took the market by storm on September 11 by pricing a $500m 5.5 year deal with a coupon of just 2.5% – the lowest ever achieved by an Indian lender.
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Mitra Pinashika Mustika (MPM) opened books for its debut international bond on Friday. The Indonesian auto company is offering a Reg S dollar denominated five year non call three deal.
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Covered bond issuers priced 10 benchmark sized deals this week, raising €11bn on the back of an aggregate €26bn of demand. Average order book sizes were boosted after the European Central Bank announced last week its intention to proceed with a third covered bond purchase programme.
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The covered bond market for sterling FRNs picked up on Monday as Barclays priced the largest ever deal in the currency and Danske Bank priced a benchmark. The two borrowers follow Nordea Eiendomskreditt, which attracted robust demand last week.
