HSBC
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It’s often the simple things that can make all the difference in whether one has a productive meeting. Room ergonomics, the view out of the window and a decent cup of coffee are all apposite metrics to consider in relation to your loan banker’s psyche.
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CGN Power is on track to be Hong Kong’s biggest IPO in 2014 as investors jostled for a piece of China’s largest nuclear energy producer, with institutional books already multiple times subscribed on day one of bookbuilding.
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Korea East-West Power Company has opened books for what it looks to be the country’s last offshore bond this year. The five and half year 144A/Reg S bond had attracted an order book of $1bn by Monday afternoon.
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Chile has mandated banks for a roadshow with a multibillion dual currency issue expected to follow and mark the return of Latin America’s best rated sovereign to international bond markets after a two year absence.
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Thursday was a busy day for European investment grade corporate bonds, with €4.9bn issued in euros and sterling. But with a great deal of diversity of issuers, maturities and currencies, the market had more appetite for some than for others.
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Israel Chemicals pulled in a $4.3bn book for its debut bond on Thursday, proving that quality still sells in a market where several deals have been pulled this week, including by KazStroyService on Monday and South Africa’s FirstRand Bank on Thursday.
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Syndication for the $3.2bn portion of Tata Steel’s $5.6bn borrowing is progressing well, with the deal already receiving $750m worth of commitments, said a banker. Nine banks have committed so far and a handful more are expected to join before close.
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United Internet — Vimpelcom — Geberit
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A short window of issuance is open for borrowers with dollar benchmarks to do ahead of the Thanksgiving holiday next week that heralds the traditional close of the market.
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Yildiz Holding, the Turkish food manufacturer, has announced details of the debt package that will back its buyout of United Biscuits, in advance of a London bank meeting on Friday.
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Fomento de Construcciones y Contratas's shareholders approved a €1bn capital increase at an extraordinary shareholders meeting on Thursday in Barcelona, allowing the Spanish building and environmental services company to begin restructuring a €4.5bn loan.
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Pulsant, the UK IT business services company, has syndicated leveraged loans backing its buy-out by Oak Hill Capital Partners.