Goldman Sachs

Amazon priced the third jumbo M&A financing bond issue in a month in the US corporate bond market on Tuesday. The $16bn seven tranche package was the fourth-largest new issue of 2017, but the summer of 2017 could signal the high point of M&A related issuance for some time, writes Nigel Owen.

Global systemically important banks (G-SIBs) in the US will still have to issue billions of dollars of new bonds in 2017 to meet their regulatory requirements for long-term and loss-absorbing debt, potentially leading to a busy four months for primary market activity.

Chinese live streaming platform YY has raised $402.5m after taking advantage of a surging stock price to sell a block of its American Depositary Shares (ADS).

Amazon will dominate US corporate bond issuance on Tuesday when it announces a multi-tranche transaction to refinance the $13.7bn financing package put in place for its acquisition of Whole Foods.

A third equity banker has left the senior ranks of Goldman Sachs to join HSBC in Hong Kong, following Chito Jeyarajah’s recent exit from the US bulge bracket firm.

Nasdaq-listed YY launched a share sale on Monday that could raise around $463m based on its latest price.

Trinseo, a US manufacturer of plastics, latex binders and synthetic rubber, opened investor calls on Monday for a new unsecured bond, as it plans to repay all of its bonds due in 2022.

The US market is expected to dominate corporate bond issuance this week. The final new deals before Wall Street all but shuts down for its annual two week break could feature one large deal, while pricing may be affected by the ongoing war of words between the US and North Korea.

Chinese biopharmaceutical company Zai Lab has appointed a pair of firms to lead its US listing, as a host of other Mainland companies also prepare to float across the Pacific.

Bajaj Finance has mandated Goldman Sachs, JM Financial and Kotak Mahindra Capital for a Rp45bn ($703m) primary capital raise, a banker on the deal said.

Nasdaq-listed Chinese biopharmaceutical firm BeiGene has bagged $175m from a follow-on public offering of American Depositary Shares (ADSs).

State-owned insurer New India Assurance Co (NIA) has submitted a draft prospectus for its IPO, which could be worth up to Rp75bn ($1.2bn), according to a banker working on the deal.