Goldman Sachs
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Cromwell European Real Estate Investment Trust (CEReit) has wrapped up a well-oversubscribed rights issue, raising €224.1m to fund the acquisition of various properties across Europe. -
Chinese property companies are pushing their fund-raising for 2018 to the bitter end – with sometimes surprising results. Cifi Holdings scored with a larger-than-expected $400m bond on Monday, while Redsun Properties Group sold a $200m tap.
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Goldman Sachs International conducted business with Lars Windhorst, the colourful German financier, despite warnings from its compliance department that he was a high risk counterparty.
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Tencent Music Entertainment Group (TME) gave investors a year-end treat this week with 2018’s last billion-dollar IPO from an Asian issuer. It was paid back with a near 8% jump in its stock price on the first day of trading. But to succeed the firm had to cut its fundraising target and get realistic on pricing. Jonathan Breen reports.
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Corporate bond bankers in the US are predicting a further 10% fall in dollar supply in 2019 as more volatility and an expected fall in US M&A activity hits issuance. The predictions come after supply for December hit its lowest level on record.
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Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets.
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Shimao Property Holdings managed to raise a sizeable $570m from its bond return on Monday, using up the last of its annual fundraising quota. But to get to the chunky size at this time of the year, the Chinese company had to offer investors a generous premium.
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WuXi AppTec priced its IPO at the mid-point of the range to raise HK$7.92bn ($1.01bn), despite the deal being oversubscribed at the upper end of guidance, according to a source close to the listing.
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The European Union will look to return to the private placement market for the first time since July 2017 to kick-off its funding programme next year. The supranational was also able to take advantage of strong conditions — since weakened — at the start of the week to bring a public market transaction.
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The Republic of Indonesia seized an opportunistic window after the G20 summit to raise $3bn in its annual dollar funding exercise. While the issuer’s timing was impeccable, it was still forced to pay a double-digit premium to attract cautious investors. Morgan Davis reports.
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WuXi AppTec is set to raise about HK$7.9bn ($1.1bn) from pricing its Hong Kong listing at the mid-point of the indicative price range, according to a source close to the deal.
