Goldman Sachs

Metropolis Healthcare wrapped up book building for a Rp12bn ($174m) IPO on Friday on the back of an order book that was 5.8 times subscribed.

The Republic of Panama is looking to deepen its local bond curve with its first Euroclearable domestic deal, with the small Central American country set to take an unusually prominent role in Latin American primary bond markets in the coming weeks.

French construction company Vinci took advantage of a lull in supply and favourable financing conditions to make its long-awaited dollar market debut.

Smaller financial institution issuers have been welcomed back to the European bond market in recent weeks, after their hopes of raising deeply subordinated capital were dashed by turbulent market conditions in late 2018. But they are not taking chances this time, seeking comfort in using the support of just one investment bank rather than a group of bookrunners.

Indications of interest for Saudi Aramco’s planned bond issue were understood to have topped $15bn on Thursday morning in London, with three days left of the roadshow still to run. Contrary to press reports, investors have been told on the roadshow that the cash raised will not be used directly to fund the acquisition of Saudi Basic Industries Corp, as that is not expected to take place for another six to 12 months, writes Francesca Young.

Russian equity capital markets are red hot again, after almost two years in the cold, with supply being driven by some of Russia’s most powerful oligarchs. As investors warm to Russian equities, more of these billionaires are set to monetise some of their holdings, writes Sam Kerr.

Tencent Holdings this week sold the largest dollar bond by an Asian issuer in more than a year, offering a five tranche deal that spanned five to 30 year maturities. In doing so, it also managed to achieve one of the flattest 10-30 year curves for a technology company new issue, writes Addison Gong.

Indications of interest for Saudi Aramco’s bond are understood to have hit over $15bn, with the roadshow not finishing until Monday April 8.

Chinese game streaming platform Huya Inc has launched a potential $550m follow-on offering, less than a year after settling its New York IPO.

Four new corporate bonds hit the market on Wednesday. In a change from recent days, all the deals were of moderate size and single tranched. Terna, the Italian grid operator, and Banque PSA France were typical in launching €500m no-grow deals. Book sizes diverged strongly, with those two issuers getting heavy oversubscription, while Aroundtown and Voestalpine had much less.

Hong Kong’s AIA Group looked to the US market for its latest $1bn bond sale on Tuesday.

ABB, the Swiss-Swedish machinery maker, issued an unusual bond on Tuesday: an 18 month floating rate note that grew as large as €1bn.