Goldman Sachs

Chinese property developer Sino-Ocean Land Holdings is looking to become the first from the much maligned sector to tap the international bond market this year, opening books to a dual tranche offering on January 28.

With many US equity bankers and investors working from home today because of heavy snowfalls on the east coast, typical European block trades would have been hard to execute today. Getting a response from the US would have taken a couple of hours longer than normal, one banker said. Attention turned instead to a very different trade: a rare Egyptian block trade.

Unilever, the Anglo-Dutch consumer goods company, capitalised on its status as a rare issuer and a highly recognisable name to price a €750m seven year bond very tight to its notional curve on Tuesday, with a coupon of just 0.5%.

Silk Bidco, an investment vehicle backed by TDR Capital, launched a three day roadshow to sell €455m of high yield bonds to back its acquisition of a larger stake in Hurtigruten, the Norwegian cruise ship operator.

The senior market was back in flow on Tuesday after a brief hiatus at the start of the week as market participants evaluated the results of the Greek election. A Syriza victory in the election was not enough to dull demand for FIG paper, with both Morgan Stanley and Rabobank drawing large order books for long dated deals.

Chinese biotech company 3SBio, which was listed on the Nasdaq, is making a return to the equity capital markets, this time with a listing in Hong Kong.

The bookbuild began today for the Spanish government's flotation of 49% of Aena, one of the largest airport operators in the world, in a deal that could top €4bn at the top end of the price range.

Despite a strong backdrop for issuance this week few SSAs are willing to bring benchmark deals in euros, as issuers wait until the full effect of the European Central Bank’s quantitative easing announcement last week plays out. Meanwhile, the next meeting of the US Federal Reserve’s Federal Open Market Committee and a winter storm approaching New York are limiting dollar issuance windows.

Indonesia industrials are returning to the dollar bond market with MAXpower Group and Tower Bersama Infrastructure readying new deals.

One of the most anticipated high yield bond issues of the year so far, Altice’s transaction to refinance its buyout of Portugal Telecom, is set to be priced today (Friday), and bankers believe it will confirm the market's vigorous health at the start of 2015.

Tele Columbus has priced its IPO in Frankfurt, the first of the year in Europe. The German cable company’s sale has been a success, and was priced at €10 a share, the midpoint of the €8-€12 range, and the top of the revised range.

SIG Combibloc, the Swiss drinks carton maker, has launched the long-awaited €2.265bn loan backing its acquisition by Onex, in the largest European leveraged takeover financing of the year so far.