HSBC
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Novares, the French plastic car parts maker, has begun bookbuilding for its rebooted €260m initial public offering on Euronext Paris. -
A-Living Services has priced its Hong Kong IPO below the midpoint of guidance. The company raised HK$4.1bn ($524.2m) after the deal was well-received across all tranches.
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Enerjisa, the Turkish utilities company owned by E.On and Sabanci, has attracted sizeable interest for its IPO, which was covered 4.8 times and priced at the bottom of the range.
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Despite the latest bout of negative publicity surrounding it having used monkeys in emission tests lingering in the press, investors were still keen to buy Volkswagen’s new sterling corporate bond on Friday. The German car maker got over £500m of orders for the 4.5 year fixed rate deal.
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Audley Group, the UK builder of luxury retirement villages, has signed a £125m revolving credit line as it follows up a 2017 equity raising as part of an “aggressive growth strategy”.
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The investment grade corporate bond market has started February with intent, with Thursday registering as the second busiest day of 2018 so far.
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Asia’s equity-linked market joined in the sub-one year bond party this week, as issuers and investors both found something to like in the structure. Two Chinese property developers successfully priced nearly identical 363-day deals, though they had slightly different results in the aftermarket. John Loh reports.
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Chinese investors welcomed the first Panda bond issuer from the Middle East with caution this week. The government of the Emirate of Sharjah sold a Rmb2bn ($317.2m) three year bond in the upper half of the coupon range.
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Dubai Islamic Bank took advantage of a quiet market to raise $1bn with a skinny new issue premium on Tuesday, opening the sukuk market for financial issuers from the Gulf.
