Goldman Sachs

ICBC Financial Leasing was out in the dollar bond market on Thursday, enticing bids for a Reg S/144A offering that is split into three portions.

Chinese bond issuers have suffered from declining interest from European and US investors, as concerns about the slowdown on the mainland has an impact. But with quasi-sovereign State Grid Corp of China sealing its first euro-dollar trade this week, it has demonstrated that, with the right strategy, issuers can find a way to dispel cynicism. Narae Kim reports.

BOC Aviation is set to raise at least HK$8.7bn ($1.1bn) from its Hong Kong IPO, as it looks to kick off bookbuilding next Monday with a fixed price.

UBS has appointed Damien Brosnan and Peihao Huang to the newly created positions of co-heads of ECM solutions for Asia, effective from last Friday.

Kraft Heinz Foods printed a €1.8bn two tranche note with minimal concessions on Wednesday — a day that produced more than €7bn of primary issuance and proved that investors were hungry for variety in the sectors they buy.

German aircraft engine manufacturer MTU Aero Engines issued a €500m seven year convertible bond on Wednesday to refinance a previous vanilla bond more cheaply.

The European Investment Bank printed a three year dollar benchmark on Wednesday, joining other issuers this week in staying at the short end of the curve.

After a shaky period on European bourses, some calm returned to stocks this week. The Euro Stoxx 50 had by Tuesday recovered most of its losses after a bruising week before. But the reprieve may prove short lived, with the FTSE 100, Euro Stoxx 50, CAC 40 and DAX index all in the red by midmorning Wednesday.

Slovenia is planning to tap its euro Reg S €1.25bn 2.125% 2025s and €1.5bn 2.25% 2032s to fund its dollar bond buy-back and has released price guidance for those notes.

Goldman Sachs’ head of Australian equities will be leaving after more than a decade with the bank to pursue other ventures.

Uncertainty regarding the outcome of the US Federal Open Market Committee’s (FOMC) meeting in June drove public sector borrowers to target the short end of the dollar curve this week, said bankers.

Chinese names are continuing their resurgence with State Grid Corp of China returning for a dollar/euro combo while China International Capital Corp (Hong Kong) has opened books for its debut offshore appearance.