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A double digit premium to the dollar curve lured in overseas buyers, who took a 'large chunk' of the bonds
Investors have lots of cash and are eager for new issuance
Investors are keen for new bonds and better rated borrowers may not want to issue in numbers
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Summit Power International has opened books for the first IPO of a Bangladeshi firm in Singapore, hoping to raise $260m. -
Tucker Highfield, Credit Suisse’s head of equity syndicate for Asia ex-Japan, has left the firm to join Bank of America Merrill Lynch, according to sources.
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Citi has appointed one of its most senior bankers Angel Ng as head of Hong Kong and Macau, according to a press release on Friday.
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China Jinmao Holdings hit the Panda market for the first time in 2018 on Wednesday, raising Rmb3bn ($476.9m). The three year bond priced just one basis point above a Panda of the same tenor sold by another real estate issuer a week earlier.
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Two high profile Latin American issuers brought the region’s corporate sector back into play on Thursday. Mexico’s Grupo Bimbo and Brazilian lender Banco do Brasil both managed hefty spread tightening after offering conservative price talk, much like the EM sovereigns that dominated primary markets.
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Argentine gas pipeline operator Transportadora de Gas del Sur (TGS) became the latest Latin American corporate to join the new issue pipeline on Thursday, as bankers predict market conditions will become friendlier.
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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
