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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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TCS Group Holding, the Russian financial services company owned by founder Oleg Tinkoff, has completed a $300m primary capital raise by selling Global Depository Receipts (GDRs) on the London Stock Exchange, gathering a strong following from investors for the deal. -
The £540m IPO of Airtel Africa, the African division of India’s Bharti Airtel, has been priced at 80p, the bottom of the initial range, following a $100m anchor order from an existing investor, according to a source close to the transaction.
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BNP Paribas Cardif raised Rp16.88bn ($243.81m) after hiving off a 2.5% stake in SBI Life Insurance.
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Chinese online lender Qudian benefitted from active engagement with equity-linked investors to explain its business and growth potential to raise $300m from a popular convertible bond.
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Gansu Provincial Highway Aviation Tourism Investment Group Co priced a $300m bond that was over eight times covered at its peak, in yet another busy week for issuance from Chinese local government financing vehicles (LGFVs).
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Phil Lipton, a veteran banker who is a well-known figure in Asia’s syndicated loans market, has left HSBC, bringing an end to a 15-year career at the firm. Pan Yue and Rashmi Kumar report.
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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
