HSBC
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The two Turkish IPOs priced this year are trading roughly in-line with their listing prices, despite recent outflows from emerging market ECM. But it is too early to judge whether this represents a positive outlook for Turkish ECM this year, according to sources. -
The Arab Republic of Egypt is providing the first big test of the resilience of emerging market debt since last week's volatility with a triple tranche dollar bond. Bankers eyeing the trade say the book size, and amount of price revision, will be a real indicator of investor appetite for riskier EM debt now the shine has come off the market.
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The Autonomous Community of Madrid is prepping its second ever sustainable benchmark, after mandating banks on Monday.
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Turkish food giant Yıldız Holding has restructured the equivalent of $1bn in short term loans into one long term syndicated loan, as part of its efforts to facilitate its growth plans for this year.
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There has been no book update or price guidance yet on the €260m IPO of Novares, the French plastic car parts maker, according to a source close to the deal. The books are due to close this week.
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Chinese department store operator Golden Eagle International Trading is back in the overseas loan market after a gap of three years for a $500m financing.
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Qatar National Bank (QNB) has signed a $3.5bn loan with 21 international banks, with one of those also selling over $2.3bn of MTNs for the issuer, showing that banks’ jitters about supporting Qatari entities in the wake of the dispute between the sultanate and six other Arab states have partly been assuaged. Bianca Boorer and Virginia Furness report.
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South Korea’s Daegu Bank pulled off a bold $300m bond on Wednesday, choosing to price a deal with a generous new issue premium rather than delay the sale any further.
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A-Living Services raised HK$4.1bn ($524.4m) from its IPO this week. It priced the deal below the midpoint of guidance, but it was well-received across all tranches.
