Goldman Sachs

Books for the Republic of Slovenia’s triple tranche euro bond tap were in excess of €3.6bn by lunchtime on Wednesday, with final spreads having been set for each clip. The deal is part of a liability management exercise that swaps out short dated dollar debt for longer euro denominated paper.

A member of the ECM syndicate team at BOC International in Hong Kong has left to join Goldman Sachs, according to sources close to the move.

Chinese video streaming platform iQiyi filed a draft IPO prospectus with the US market regulator on Tuesday. It is aiming to raise up to $1.5bn from its listing this year.

FMS Wertmanagement on Tuesday took advantage of widening swap spreads to equal the tightest spread to mid-swaps on a five year benchmark so far this year — a level that was “very tight” to KfW, said bankers on the trade. Two other borrowers are lining up to try their luck in the tenor — including one that is aiming for an even tighter spread.

Five new investment grade corporate bond deals were priced on Tuesday and, while pricing was competitive, none of the issuers allowed for any growth in the size of the deals as all five used a no-grow strategy.

Ivanhoé Cambridge, a Canadian property investor, sold a 4.2% stake in the French real estate investment trust Gecina on Monday night through an accelerated bookbuild run by Goldman Sachs.

Koninklijke Philips, the Dutch healthcare technology group, cut its stake in Philips Lighting to 18.3% through an accelerated bookbuild on Monday night.

The Bank of England’s annual €2bn three year dollar issue was comfortably oversubscribed on Monday, but the smaller volume of orders compared with last year and lack of price movement reflected both the greater difficulty in printing short dated deals and investor pushback against super tight swap levels, said bankers. That may have played a role in FMS Wertmanagement’s decision on Monday to mandate for a five year dollar deal, they added.

Assystem Technologies, a French engineering specialist owned by Ardian, is launching an add-on to its term loans to fund its purchase of German peer SQS Software Quality Systems, as merger and acquisition deals gain share in the leveraged loan market.

Bright Scholar Education Holdings is out with its first follow-on offering since its IPO last May, and is gunning for about $200m.

Sunlands Online Education Group is planning an up to $300m IPO of American Depository Shares (ADS), according to a draft prospectus submitted to the US regulator on February 23.

Grand City Properties, the German residential property firm, printed eight and a half year Swiss franc bonds on Wednesday, and also sold a new nine year in euros on Monday alongside a tender for some outstanding bonds and convertibles.