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◆ Gulf private placements bite back ◆ Bond new issue premiums rise ◆ CLOs catch a break
Business has sagged in the third quarter, but the pipeline is busy, despite an intractable war
Private bonds are now being offered in the open market wider than where public deals trade
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Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees. -
The State Administration for Market Regulation (Samr) has concluded a five month investigation into Luckin Coffee over unfair competition, fining the company and nearly four dozen others that were also involved a total of Rmb61m ($9m).
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SCG Packaging is set to begin investor presentations for its up to Bt39.5bn ($1.26bn) IPO, which will be Thailand’s second largest listing in 2020.
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CCB Leasing’s plans to raise $500m were scuppered after markets tanked and investor sentiment took a hit on Monday. The Chinese firm was forced to adjust its expectations for a smaller $300m bond.
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Formosa Plastics Corp is preparing to set a new pricing benchmark with its planned $2bn loan, which bankers reckon could set a record low for a borrower from Taiwan. If the company succeeds, this could set a dangerous precedent for the long-term health of Asia’s loan syndication market.
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Kingsoft Cloud Holdings has hit the market with a follow-on offering of new and existing American Depository Shares (ADS).
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Sponsored by CAF – Development Bank of Latin America and the Caribbean
CAF gearing up to transform regional development
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Sponsored by Emirates NBD Capital
Emirates NBD Capital: An unrivalled conduit for Middle East liquidity
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Sponsored by European Investment Bank
European Investment Bank: Supporting sustainable development in North Africa
