JP Morgan
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Greece and Ireland are set to test the primary bond market this week, returning to one buoyed by a fresh injection of confidence after the European Central Bank expanded its Pndemic Emergency Purchase Programme (Pepp) last week. -
Burning Rock Biotech, a cancer detection and therapy company, has opened books for its up to $209.3m Nasdaq IPO following a hot week for Chinese listings in the US.
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Additional tier one capital (AT1) issuance has been conspicuous by its absence amid an incredible recovery in the bank finance market in recent weeks. Bankers now argue that new supply in the asset class could be just around the corner.
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Reliance Industries raised Rp531.2bn ($7.04bn) this week from India’s largest ever rights issue and the company’s first primary equity offering for over 25 years.
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Chinese online game developer NetEase has raised HK$21.1bn ($2.7bn) from its secondary offering in Hong Kong, riding on strong investor support for its listing, according to a senior banker on the deal.
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Europe’s high grade corporate bond market saw a steady stream of trades this week, with the bigger than expected fresh wave of bond buying announced by the European Central Bank forecast to keep the rally in corporate credit going.
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Guarantor: All Danish municipalities and regions
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Norway’s Kommunalbanken returned to the domestic New Zealand dollar market after a two year absence on Wednesday with its largest Kauri deal since its debut.
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Nordea Bank took advantage of very attractive conditions in the dollar market this week to price a new senior deal at a spread that was well below the fair value implied by secondary trading levels.
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Chinese online game developer NetEase had covered its HK$21.6bn ($2.8bn) secondary listing in Hong Kong multiple times over by the time GlobalCapital Asia went to press on Thursday. Investors have long awaited the company’s return from the US, pumping in orders as markets rallied despite numerous geopolitical headlines. Jonathan Breen reports.
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Standard Chartered sold its first capital instrument in euros since 2014 this week, clocking up a considerable 40bp saving versus the dollar market. The deal adds to a recent flurry of tier two supply from European banks.
