HSBC

Tencent Music Entertainment Group (TME) gave investors a year-end treat this week with 2018’s last billion-dollar IPO from an Asian issuer. It was paid back with a near 8% jump in its stock price on the first day of trading. But to succeed the firm had to cut its fundraising target and get realistic on pricing. Jonathan Breen reports.

Corporate bond bankers in the US are predicting a further 10% fall in dollar supply in 2019 as more volatility and an expected fall in US M&A activity hits issuance. The predictions come after supply for December hit its lowest level on record.

UK-listed Ophir Energy has amended and extended its reserves-based lending facility, as a surge of end of year deals continue to work their way through the market.

With the UK in turmoil just over three months before its date of departure from the European Union, a core section of the bank bond investor base is refusing to get out of its sizable position in UK bank debt.

Tencent Music Entertainment Group (TME) has nabbed $1.1bn from its IPO on the New York Stock Exchange, guiding investors toward the bottom of the price range amid choppy markets.

Three Chinese local government financing vehicles (LGFVs) managed to push out last-minute dollar deals before the year end on Tuesday, while property developer Kaisa Group Holdings raised $300m from a 365-day bond at a double-digit yield.

Like many recent IPOs in Hong Kong, Chinese telecommunication software provider AsiaInfo Technologies has also priced its listing at the bottom of the indicative range, raising HK$900m ($115m).

Hungary is planning to sell a Rmb2bn ($290m) three year Panda bond on December 17, becoming the first and only sovereign returnee to the market.

Shimao Property Holdings managed to raise a sizeable $570m from its bond return on Monday, using up the last of its annual fundraising quota. But to get to the chunky size at this time of the year, the Chinese company had to offer investors a generous premium.

Xinyi Energy Group is looking to make its debut on the Hong Kong Stock Exchange at the end of next week, as it seeks up to HK$4.5bn ($582.3m) from its IPO.

Logan Property Holdings Co made a quick venture into the market on Thursday to use the remainder of its offshore issuance quota for the year. The typically price-sensitive issuer willingly left something on the table for investors this time around to ensure their support in 2019.

China’s Haitong Securities priced a dual-currency transaction on Thursday, heading to the euro market for cheaper funding. Another issuer, Peking University Founder Group, was looking to price an up to €100m deal on Friday.