Goldman Sachs

Seven Chinese real estate issuers followed five of their peers to the offshore debt market on Tuesday, marking the busiest start to the year for the Asian bond market.

The Republic of Indonesia made an opportunistic outing this week, tapping both the dollar and the euro bond markets for about $3bn. The sovereign started the year with a different approach to its annual funding, in a bid to take advantage of strong liquidity in both the currencies, writes Morgan Davis.

A strong reception for a five year euro benchmark by KfW on Tuesday was enough to lure in a hesitant flock of public sector borrowers to the euro market as the pipeline stacks up for Wednesday’s business.

The Republic of Slovenia became the first CEEMEA issuer to print a bond this decade, quickly launching a €1.5bn deal from a book of €11.75bn on Tuesday.

A number of Chinese real estate companies kicked off their refinancing for 2020 on Monday, with higher rated issuers tapping longer-dated bonds and the weaker names actively engaging in liability management.

Chinese artificial intelligence company Megvii Technology is moving forward with its plan to list in Hong Kong, after getting the go-ahead from the city’s stock exchange, according to two sources close to the transaction.

The State of Israel was first out of the blocks for emerging markets bonds on Monday, as it announced a dual tranche dollar offering despite market participants' continued caution after the US assassination of Qassem Soleimani.

The end of 2019 was a bumper time for equity block trades in EMEA. After many of these accelerated trades generated strong, market-beating returns for investors, banks are hoping funds will have goodwill towards the market, supporting a strong start to 2020.

Guangzhou R&F Properties, a Hong Kong-listed Chinese real estate developer, raised HK$3.7bn ($475m) from a placement on Thursday evening in one of the last ECM deals of the year in the region.

Italian football club Juventus has finished its €300m rights issue, which is intended to strengthen its balance sheet after an annual loss in 2018.

Enagas, the Spanish natural gas transmission company, raised €500m of new capital market on Wednesday night to help fund its acquisition of a stake in US firm Tallgrass Energy.

Southpaw takes a sideways look at some of the big events that defined investment banking in 2019.