Goldman Sachs

Universal Medical Services & Health Management Company is the latest healthcare-related business to file for an IPO in Hong Kong, in a deal that could raise between $300m-$600m.

Shawbrook, the UK challenger bank, today launched the bookbuilding phase of its initial public offering, as the firm looks to raise at least £180m on the London Stock Exchange.

French water and waste management company Suez Environnement has refinanced its hybrid bond, due to be called in September, with a new €500m non-call seven year hybrid.

Esterline Technologies Corp on Monday announced it would offer €330m of senior unsecured bonds, the fifth high yield issue in euros from a US company in March.

GF Securities is making a big splash in the ECM market, opening books for its Hong Kong IPO of up to HK$27.9bn ($3.6bn) on Monday, March 23 and offering a very generous discount to where the company’s A-shares are trading. The bargain buy has resonated well with the market, with cornerstone investors having signed up for more than half of the entire trade.

Mizuho Bank printed its first dollar issue of the year on Thursday, printing a multi-tranche offering that consisted of the same structure and size of its last outing in September. The Japanese lender took advantage of the cautious market sentiment following Federal Open Market Committee (FOMC) meeting this week to effortlessly bag $2.5bn.

Italy showcased the rampant demand at the long end of the euro curve with a record equalling €8bn deal this week — but also highlighted new hedge fund behaviour.

The hot demand in Europe's credit markets has already brought a stream of US investment grade borrowers to issue in euros. This week, four US high yield issuers rated single-B joined the caravan, writes Victor Jimenez.

Nationwide and Caixabank launched the only two covered bonds this week. Despite both issuers getting the funding they wanted, the final outcome was poor in comparison to past standards.

Norway’s DNB did not inspire on its additional tier one debut on Thursday, failing to attract the same level of interest as Swedish peers achieved in recent weeks.

Goldman Sachs placed HK$5.43bn ($700m) worth of borrowed stock in China Pacific Insurance Group Co (CPIC) on March 18, the public leg of a derivative agreement with Allianz through which the German insurer hedged part of its stake in the Chinese firm.

Final terms were released today for the €600m loan in euros and dollars to fund the merger between publishers Springer Science and Macmillan Science and Education.