Goldman Sachs
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Best, a logistics firm backed by Alibaba, started pre-marketing its $1bn IPO on the New York Stock Exchange this week, as a clutch of Chinese issuers also filed listing applications in the US. -
Goldman Sachs is soon to close a block trade of its Dong Energy shares, its third sale since the IPO, with price guidance standing at Dkr320 to Dkr322 a share.
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A pair of issuers sold high quality euro deals into an eager market on Wednesday, drawing praise from onlookers for impressive books.
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Kommunalbanken made what bankers away from the trade described as an “excellent” choice of tenor with a dollar benchmark on Wednesday as it tightened pricing from guidance — something that not every issuer has been able to achieve in the currency over the last two weeks. Meanwhile, a Japanese issuer mandated for a trade that bankers expect to go well despite geopolitical tensions in Asia.
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Equity-linked bond issuers are often the most quixotic group among equity capital markets issuers — the market is frequently marked by sudden droughts caused by lack of deals, despite strong market conditions, as happened this spring.
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The bookrunners on logistics company Best’s potential $1bn US IPO have kicked off pre-marketing, according to a banker working on the deal.
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The European Financial Stability Facility (EFSF) picked up €2bn with a 23 year bond on Tuesday, paving the way for other top-flight borrowers to bring their own euro deals.
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A former Goldman Sachs banker has decided to come out of retirement to join Standard Chartered in a senior management position.
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LafargeHolcim on Tuesday became the first issuer for nearly two weeks to launch a corporate bond in Europe. The €750m 12 year deal received strong demand, with order books more than three times subscribed.
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Six corporate investment grade borrowers took home a combined $3.75bn as the US dollar market finally took a breather for the summer after the breakneck pace of issuance for the month so far.
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Two deals were priced this week in the European corporate bond market, and next week already looks busier. With a roadshow under way and four others coming up, the window before September’s European Central Bank meeting looks full.
