JP Morgan
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The Republic of Uzbekistan, which debuted in international debt markets just last year, sold a dual currency bond this week, as foreign investors eyed up an Uzbek som tranche. -
Millicom International Cellular has sold a 5.2% stake in Helios Towers, the Africa-focused telecommunications infrastructure company, through an accelerated bookbuild.
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Chinese housing-related platform operator Ke Holdings has raised $2.05bn from a fresh follow-on offering of its New York-listed shares, returning to the equity market less than three months after its IPO.
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Small transactions reached big audiences in the financial institutions bond market this week, as investors realised they would need to consider buying sub-benchmark supply in order to make the most of a dwindling deal pipeline. Tyler Davies and Frank Jackman report.
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Volkswagen led the dollar primary bond market this week as borrowers jumped into a crowded field to find funding ahead of the Thanksgiving holidays.
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Erste Group Bank and Société Générale both capitalised on the euro market’s extremely favourable conditions this week, pricing new subordinated deals in line with fair value or even through it.
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Engie, the French electricity and gas company, and UK transport firm National Express enjoyed bumper demand for hybrid capital issues on Thursday, as some market participants argued the coronavirus pandemic had changed the way hybrids are seen by issuers.
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The Asian Development Bank made its first foray into the Pakistani rupee market this week, tapping a growing appetite for frontier currency-linked paper.
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Metropolitan Life landed a good price on its return to the Aussie dollar market on Thursday, thanks to tightening spreads and a scarcity of high rated financial paper.
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The People’s Republic of China returned to the European market on Wednesday, part of its plan to make euro bond outings an annual exercise. The €4bn transaction was a blow-out, with the order book well oversubscribed — and one of the three tranches achieving the sovereign’s first negative yield. Morgan Davis reports.
