Goldman Sachs
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South Korean mobile messaging platform Kakao Corp raised $1bn this week from an issue of Global Depository Receipts (GDRs), defying fears it would suffer from its link to a cryptocurrency exchange. -
Dollar SSA deals are showing little signs of a hangover from a public holiday in the US on Monday, with all three of Wednesday’s trades well over subscribed and pricing inside guidance.
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Kakao Corp, the South Korean mobile messaging platform, launched a Global Depositary Receipts offering of $1bn to the market on Wednesday.
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Chinese corn oil manufacturer Shandong Sanxing Group Company and real estate developer Cifi Holdings (Group) Co raised a combined $500m on Tuesday, adding to the growing momentum in the Asia bond market.
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Country Garden Holdings pocketed HK$23.5bn ($3bn) from a dual-tranche sale of shares and convertible bonds on Tuesday, pricing the equity-linked portion at the best end for investors.
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Chinese biopharmaceutical company BeiGene is looking to raise about $650m from a follow-on offering of American Depository Shares (ADSs), according to a filing with the US regulator.
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Execution in the euro SSA market keeps getting better. New issue premiums are sliding as market participants adjust to new yield and spread levels, according to bankers and issuers.
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A widening in dollar swap spreads since the end of last week should help support a trio of dollar deals on screens for Wednesday’s business, said SSA bankers.
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Three Chinese issuers are seeking fresh funding from the dollar bond market on Tuesday, with one wooing accounts for a comeback deal and the other two making their debuts.
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A stack of high yield bonds is set to hit the European market, as four issuers announced roadshows on Monday.
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Clayton Dubilier & Rice seized the opportunity to sell the last of its shares in B&M European Value Retail, the UK discount retailer, last Friday, after the company posted strong Christmas results.
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The euro market, despite an increasingly hawkish central bank and strengthening euro, is proving immensely popular with borrowers. A pair of sovereigns hit screens on Monday for euro trades, as did two Nordic agencies.
