JP Morgan

Chinese delivery company SF Express Co is seeking an up to HK$24bn ($3bn) loan for its acquisition of Kerry Logistics Network, signalling the start of a revival in fundraising for event-driven situations. Pan Yue reports.

South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports.

Macrotech Developers, an Indian real estate company that was called Lodha Developers until mid-2019, has revived plans for a listing under its new name, three years after its last attempt at an IPO.

Charlie Jacobs, senior partner and chairman at law firm Linklaters, is set to become co-head of UK investment banking at JP Morgan.

CPPIB Capital made a strong return to the 10 year part of the euro curve on Wednesday, with a book over two times covered and a new issue premium of just 1bp. Bremen also hit the euro market, selling €500m of 30 year paper through its curve.

Sage Group, the UK business software company, is expected to bring a 10 year sterling trade on Thursday, as syndicate bankers say the dribble of deals seen this week looks like it will be the standard for the rest of the month.

The rush of Spac IPOs in Europe is continuing, with the launch of a new Frankfurt-listed cash shell backed by Klaus Hommels, focused on acquiring a company in the technology sector.

Italian payments company Nexi has issued a new €1bn convertible bond to refinance its acquisition of Nets, a Danish competitor.

Pakistan’s Water and Power Development Authority (Wapda) is planning to sell its debut dollar bond in late March, in what would be a rare international corporate outing from the country.

Participants in Europe’s high grade bond market have been left scratching their heads about the performance of a Becton Dickinson €600m 15 year bond since it was issued last week. The spread has come hurtling in by 20bp, despite bankers away from the deal saying they would probably have valued it similarly to the leads.

Two SSA borrowers hit screens on Tuesday to announce benchmark bonds. Deal flow in the SSA market has slowed after the January rush, but borrowers are still keeping investors busy with a regular flow of deals.

JP Morgan has appointed a new team of senior investment bankers focused on special purpose acquisition companies in Europe, after over $100bn was raised over the past year by cash shells, mostly in the US.