Goldman Sachs
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All eyes were on Italy in the primary euro public sector bond market on Tuesday as it pipped Spain for the biggest ever order book for a eurozone sovereign syndicated bond in the 20 year part of the curve. -
Banco BPM opened books for a new tier two on Monday, as it looked to take advantage of supply and demand dynamics in a quieter September than usual.
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Yum China, the Mainland-based fast food franchise operator, was eyeing at least HK$17.3bn ($2.2bn) in fresh equity on Friday after giving investors some price guidance for its secondary listing in Hong Kong.
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Europe’s high grade corporate market continued to offer plenty of demand for riskier structures this week, with multiple hybrids again taking up screen space.
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Japan’s Mizuho Financial Group came to the dollar market with a $2bn trade on Tuesday as it jumped ahead of the September funding rush.
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A trio of European SSAs raised a combined $6bn with five year dollar benchmarks this week. Kommunalbanken, the European Stability Mechanism and Nordic Investment Bank all hit a “very deep pocket” of demand in the tenor.
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Fast food franchise operator Yum China Holdings is cooking a multi-billion-dollar secondary offering in Hong Kong. It is the latest deal in a growing trend that bankers expect will bring more US-listed Chinese companies to the exchange by the the end of 2020, writes Jonathan Breen.
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Solar glass manufacturer Xinyi Solar Holdings raised HK$2.7bn ($343.5m) on Wednesday, after boosting the size of a primary share sale.
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Beijing Infrastructure Investment Co used a direct guarantee structure for its dollar bond return instead of a keepwell agreement, just days after keepwell deals sold by Peking University Founder Group were not recognised in a debt restructuring. The move paid off for the metro operator — bolstering the rating of its deal and helping it get away with tight pricing. Alice Huang reports.
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The top investment banks will achieve substantially higher returns on equity this year, predicts analytics firm Coalition, after revenues in fixed income, currencies and commodities (FICC) soared in the first half of the year.
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The European Stability Mechanism hit dollar the market on Wednesday with a five year benchmark — its fourth ever in the currency. Two Nordic issuers are set to follow suit on Thursday.
