JP Morgan
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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. -
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.
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Four public sector borrowers hit the dollar market on Wednesday, including a rare seven year deal from new issuer International Development Association (IDA).
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French food company Danone led the pack in a strong day for vanilla corporate bond issuance in Europe, with an €800m deal, as some syndicate bankers say recent borrowers are looking to return to the market soon to take advantage of tightening spreads.
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The Republic of Hungary won a €7.25bn order book on its debut in green bond markets on Tuesday, printing a €1.5bn trade.
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Banks are taking a greater share of issuance in the bond markets in the middle of the second quarter, with a spread rally opening the way to deals in all currencies and across the capital structure.
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Online casino gaming company DoubleDown Interactive is planning a Nasdaq IPO, the first by a South Korean company in nearly a decade.
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The European Investment Bank raised $5bn with a three year global benchmark on Tuesday, setting the stage for fellow SSA borrowers to tap the dollar market later in the week.
