Goldman Sachs
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Samsung SDS priced its W1.2tr ($1.1bn) IPO at the top of the range on October 31 to become the largest South Korean IPO in years. With final books 40 times covered, the trade has paved the way for the next big South Korean listing — that of Cheil Industries, which is looking to raise W1.52tr. -
China’s eHi Car Services opened books for its $140m New York IPO on November 4, with plenty of anchor support.
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China Construction Bank (CCB) priced what was only the second ever tier two bank capital transaction to be issued in offshore renminbi (CNH) this week. The November 5 trade proved to be a hit with investors, even though they had trouble finding comparables for it.
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Ontex, the Belgian nappy maker, priced on Wednesday its €250m high yield bond at par with a 4.75% coupon, as part of a debt restructuring that made Moody’s upgrade its rating one notch to Ba3.
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The European Financial Stability Facility is likely to be one of the few issuers to test demand in euros next week, having sent out requests for proposals for a benchmark on Wednesday. Other issuers with euro needs are more likely to indulge in arbitrage plays next week, said SSA bankers, although a pair of borrowers printed small euro benchmarks on Wednesday.
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National Australia Bank is set to sell the first Basel III-compliant tier two capital issue from an Australian bank in euros on Wednesday.
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Bond investors have plenty of choices of which Chinese bank to put their money into after China Construction Bank (CCB) joined two of its peers in opening books on November 5.
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Mexican IT service provider Six Sigma Networks (Kio) sold a $500m seven year deal on Tuesday well inside price talk to show that the market is wide open for LatAm high yield despite rating agency warnings this week that the region’s sub-investment grade borrowers will be more affected than most by changing external conditions.
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Apple’s first European bond issue was not the megadeal some might have hoped for — but at €2.8bn it was still large, and in the level of demand and its keen pricing, it did not disappoint.
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UK challenger bank Virgin Money today restarted its planned London IPO, after having put the deal on hold last month, as a keenly awaited decision from the Bank of England reassured the issuer.
