Deutsche Bank
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South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports. -
Italy hit the market with a dual tranche on Tuesday, raising €4bn with a 30 year linker and €10bn with a new 10 year BTP. A sharp move in pricing on the 10 year leg meant it lost €45bn of orders, but SSA bankers on and off the deal said the trade was still a good result.
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The rush of Spac IPOs in Europe is continuing, with the launch of a new Frankfurt-listed cash shell backed by Klaus Hommels, focused on acquiring a company in the technology sector.
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Oliver Ives, most recently at advisory firm Ondra Partners, has joined Deutsche Bank.
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Pakistan’s Water and Power Development Authority (Wapda) is planning to sell its debut dollar bond in late March, in what would be a rare international corporate outing from the country.
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Italy came to the market for its first syndication since a seismic rally in the sovereign’s bonds after Mario Draghi agreed to form a new government earlier this month. But despite the huge confidence from investors in BTPs, a compression of 4bp from initial price thoughts for a new 10 year led to a dramatic loss of over €45bn orders.
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Iceland’s Landsbankinn is set to sell its inaugural green bond, having mandated a quartet of banks to begin investor calls on Tuesday ahead of a potential senior issue.
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Coupang, an e-commerce company, is planning a $1bn IPO in the US as it gets ready to become the first South Korean firm to list in New York in 10 years.
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Europe’s high grade bond investors showed they are still willing to swallow ultra-thin spreads on Monday, when Dutch leasing company LeasePlan priced a green bond well inside fair value and Deutsche Boerse won ample demand for a thinly priced €1bn deal.
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Italy hit screens on Monday to announce a dual-tranche syndicated deal comprising a new 10 year benchmark and 30 year inflation-linked bond.
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Global financial institutions will focus more on their home markets amid a sharp fall in funding requirements this year, leaving sterling credit investors yearning for more supply from overseas FIG issuers.
