Deutsche Bank
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A flurry of Swiss franc issuance dusted the market this week, as domestic and foreign borrowers entered a more settled market.
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Ahold Delhaize, the Dutch-Belgian supermarket group, priced its debut sustainability-linked bond 7bp inside fair value on Thursday, despite tricky conditions in the corporate bond market, showing that investors are gaining an appetite for SLBs and like new flavours, writes Mike Turner. -
Secondary listings in Hong Kong got a fresh boost this week with online car marketplace Autohome pricing its deal and internet giant Baidu getting ready to roll out its transaction. More homecomings by US-listed Chinese companies are in the pipeline, but the number of viable candidates is shrinking, writes Jonathan Breen.
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Coupang, a South Korean e-commerce company, scooped up $4.2bn from its IPO this week, after pricing the deal above the marketed range. It is the largest US listing from Asia since Alibaba Group Holding raised $25bn seven years ago.
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A pair of French agencies hit the market on Wednesday, pulling off impressive deals ahead of the European Central Bank meeting on Thursday, where investors hope to hear promises of increased support.
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NRW.Bank will be the next public sector borrower to hit the sterling market following an improved funding cost in the currency versus euros and dollars.
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US-listed Autohome, an online car marketplace, has wrapped up its HK$5.34bn ($687.8m) secondary offering in Hong Kong, pricing the deal even as its US stock dived amid a market rout.
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South Korean e-commerce company Coupang has increased the price range for its US IPO a day before wrapping up the deal, now putting proceeds of up to $4.08bn within reach.
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Ahold Delhaize, the Dutch food retailer, has mandated banks for a debut sustainability-linked bond, as it continues to push its capital structure towards socially conscious financing.
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Vantage Towers, the telecoms towers division of Vodafone, has announced the price range for its IPO on the Frankfurt Stock Exchange and secured cornerstone orders for almost half of the deal size. The deal is smaller than many had expected, as rising bond yields continues to impact wider equity markets.
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FIG issuers are taking care to announce deals before opening order books this week, as they try and book their places in the market ahead of a tricky meeting for the European Central Bank on Thursday.
