HSBC
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Budweiser Brewing Company Apac has raised HK$39.2bn ($5bn) after pricing its IPO at the bottom of guidance, and partially using an increase option. It was the company’s second attempt at listing in Hong Kong. -
Two Chinese companies tapped dollar bond investors on Monday. One of the most active issuers this year, Zhenro Properties Group, came out with an aggressively priced $300m transaction, while a district-level government financing vehicle sold its debut offshore deal.
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Korea Development Bank made a billion-dollar outing in the global bond market, and got away with offering very little premium to investors wooed by its safe haven status.
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The Province of British Columbia has weathered volatility from the fallout of last week's meeting of the US Federal Reserve to return to the dollar market for the first time in four years. Another rare SSA issuer, IDB Invest, also plans a return to the dollar market, with investor calls set up for this week ahead of its five year debut.
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Lead managers had to step in to help Nederlandse Waterschapsbank (NWB) raise €500m with a 15 year water bond on Monday, though a banker on the deal said that there had been strong demand for the transaction from ESG investors.
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The Emirate of Abu Dhabi ended a two year absence from capital markets on Monday with a triple trancher, mirroring the tenors it used in its last trip to the market in 2017.
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South Korean conglomerate Lotte has kicked off bookbuilding for a real estate investment trust IPO, marking the first float attempt in the country since Homeplus Stores pulled its billion-dollar Reit listing earlier this year.
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Hong Kong-based Li & Fung and Thai state-owned PTT have kicked off their liability management programmes, and plan to support their tender offers with new bonds.
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Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.
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A range of Chinese issuers, including two property developers and a local government financing vehicle, have raised funds from the dollar bond market.
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A pair of shareholders in Chinese clothing manufacturer Shenzhou International has pocketed HK$3.23bn ($412.7m) from selling a chunk of the company’s stock.
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