Goldman Sachs

Nippon Telegraph & Telephone Corp (NTT) had a storming outing in the bond markets this week, easily raising €1bn in Europe and $8bn on the other side of the Atlantic to refinance M&A bridge debt.

Indian renewable energy company ReNew Power is planning to list on the Nasdaq in the US through an $8bn merger with a special purpose acquisition company (Spac).

Saudi Arabia was set to sell its second ever bond in euros on Wednesday. The bond, which will allow the kingdom to further diversify its investor base, is expected to tighten considerably from initial price thoughts.

Vantage Towers, the telecoms towers unit of Vodafone, has launched its long-awaited flotation on the Frankfurt Stock Exchange, having announced its intention to float on Wednesday.

Saudi Arabia mandated banks on Tuesday to arrange a bond in euros, just a month after it last entered the market to raise dollars. The "opportunistic" bond will enable the kingdom to achieve tight pricing and diversification, market participants said.

US corporate bond bankers have shrugged off concerns that the steepening of the US Treasury curve could spell problems for credit, after the 10 year yield closed at 1.29% on Wednesday and the 30 year broke though 2%.

There were flashbacks to last month’s Spanish syndication in the bond market this week as Italy made an emphatic start to the Draghi era in the BTP market. The borrower shed billions of orders on Tuesday after aggressively pricing its first syndication since the appointment of the ex-ECB chief as the country’s prime minister. Burhan Khadbai reports.

South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports.

Italy hit the market with a dual tranche on Tuesday, raising €4bn with a 30 year linker and €10bn with a new 10 year BTP. A sharp move in pricing on the 10 year leg meant it lost €45bn of orders, but SSA bankers on and off the deal said the trade was still a good result.

CPPIB Capital made a strong return to the 10 year part of the euro curve on Wednesday, with a book over two times covered and a new issue premium of just 1bp. Bremen also hit the euro market, selling €500m of 30 year paper through its curve.

The logistics unit of Chinese internet company JD.com is planning to list in Hong Kong through a multi-billion-dollar IPO.

Japan's NEC Corp offloaded its remaining stake in Hong Kong-listed Hua Hong Semiconductor on Tuesday, raising HK$5.69bn ($733.9m).