Goldman Sachs

Logistics provider ESR Cayman launched what will be the Hong Kong Stock Exchange’s biggest IPO of 2019 so far on Wednesday, seeking to raise up to HK$9.76bn ($1.24bn) as hopes of US rate cuts opened a clear window in otherwise trade war-weary markets. Gina Lee reports.

China’s Hansoh Pharmaceutical Group has priced its HK$7.9bn ($1bn) Hong Kong Stock Exchange offering.

Investors proved their appetite for corporate bonds this week by gobbling €5bn of them on a single day, as Publicis Groupe and BMW issued jumbo deals on a second consecutive day of heavy issuance in Europe.

Warburg Pincus-backed logistics manager ESR Cayman opened books on Wednesday for what will be the biggest float in Hong Kong so far this year.

CDP Financial has set the price in line with initial price thoughts for its two year dollar benchmark, giving investors a new issue premium of around 4bp.

Mizuho Financial Corp marketed a senior bond on Tuesday, breaking the silence in the financial institutions bond market this week. The issuer attracted €1.7bn of orders, showcasing its established name in a quiet market.

Investors are calculating the value of Airtel Africa, the African subsidiary of Indian telecoms conglomerate Bharti Airtel, as it is going ahead with a floatation on the London Stock Exchange (LSE).

Volkswagen has rebooted the IPO of Traton, its trucks division, after the deal was delayed in March due to volatility in equity markets caused by the ongoing trade tensions between the US and China.

CDP Financial is out with initial price thoughts on a two year fixed rate dollar benchmark trade, with syndicate bankers tipping this week to be busy for SSA issuers.

Actividades de Construcción y Servicios, the Spanish building and services firm run by Florentino Perez, is seeking to list its renewable energy unit, Zero-E, as early as autumn 2019, according to two sources close to the transaction.

Global Fashion Group, the emerging markets-focused online fashion retailer, intends to raise €300m to finance its growth via an IPO on the Frankfurt Stock Exchange, the company said in a statement on Monday.

Agence Française de Développement (AFD) struck a lonely figure in dollars this week with a $650m two year floating rate note on Wednesday, though syndicate bankers said that several borrowers are lining up to pull the trigger on trades in the first week of June.