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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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Temasek Holdings returned to the securitization market this week after a two year hiatus to woo investors into private equity funds-backed Astrea IV. Institutional investors are already in the bag. The focus now is on winning over retail accounts — the first time such a deal has been open to the city-state’s public, writes Addison Gong. -
Hua Medicine has filed for an IPO in Hong Kong under sponsors CLSA and Goldman Sachs, as the promised pipeline of biotechnology issuers begins to materialise following the city’s new listing rules.
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Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.
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China Everbright Bank’s Hong Kong branch sold its first euro-denominated bond on Wednesday, part of a dual-currency floating rate transaction.
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The Republic of Croatia pulled pricing for its €750m 2.7% 2028 bond 30bp tighter than initial price guidance on Wednesday, bringing the reoffer spread nearly flat to the outstanding curve.
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Emerging market loans bankers are clinging to their tranquil view of Turkey amid soaring bond yields in the country. The insular nature of borrowing practices there means international lenders are exposed almost exclusively to Turkey’s banks.
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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
