JP Morgan
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The IPO of InPost, the Polish provider of postal lockers, is due to be priced at €16, the top of the initial range, valuing the company at €8bn when it begins trading on the Amsterdam Stock Exchange later this week. -
UK Export Finance, the UK's export credit agency, has provided its largest ever overseas infrastructure guarantee to support the construction of two new monorails in Egypt. JP Morgan is leading a group of commercial lenders in providing the funding.
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Four US global banking titans roared out of earnings blackout to raise more than $20bn of debt this week, issuing deals either side of president Joe Biden’s inauguration.
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Orient Overseas (International) has scooped up HK$932.5m ($120.3m) from a top-up placement, increasing the deal on strong anchor investor demand. Two other Hong Kong-listed companies, both from the healthcare sector, also turned to investors on Thursday.
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Companies in the same sector often copy each other, but this year's string of bond issues by aircraft lessors has been exceptional, and is prompted by the sector's credit rehabilitation. Air Lease Corp took the recovery past a new milestone this week.
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France stole the limelight in the euro public sector bond market this week as it set new records for 50 year benchmarks in terms of size, demand and yield. But next week all eyes will be firmly fixed on the EU, which is set to bring its first bond of the year under its Support to Mitigate Unemployment Risks in an Emergency (SURE) funding programme.
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Investors have enthusiastically backed a €4.6bn financing package for Ineos Quattro, funding the integration of BP’s aromatics and acetyls business into the chemicals conglomerate. Strong demand allowed the company to raise more secured debt than expected, cutting funding costs, and strip out a bank-targeted term loan ‘A’ in favour of a bigger, cheaper, institutional term loan ‘B’.
