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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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Globalworth, an AIM-listed real estate investment trust focused on Poland and Romania, released initial price guidance for a euro benchmark seven year bond at 3.375% area, talk that a syndicate official away from the note represented around a 40bp pick up over fair value. The talk was later in the morning updated to 3.125%-3.25% with leads saying the deal will price in range. -
After wrapping up investor meetings on Monday, Abu Dhabi Commercial Bank has opened books on a new five year dollar deal, offering around 30bp premium in order to attract investors in a "shakier market.”
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Global internet and entertainment group Naspers launched a block sale of Tencent Holdings shares on Thursday, looking to raise $10.6bn, according to a term sheet seen by GlobalCapital Asia.
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The Kingdom of Bahrain has announced the only new CEEMEA bond mandate of the week so far, looking for a multi-tranche benchmark deal to follow its storming last foray into the international bond markets in September.
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Peru’s dollar denominated sovereign bonds dipped in secondary markets on Wednesday afternoon after president Pedro Pablo Kuczynski (PPK) resigned before a pending impeachment vote, but had recovered most of their losses by end of play.
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Ukrainian poultry producer MHP was offering a chunky concession to its own curve on Thursday as it looks to push out its debt maturity profile with a new issue to finance a buy-back of its 2020s.
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