JP Morgan
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France’s LVMH has agreed to buy jeweller Tiffany & Co. for around $16.2bn, with Bernard Arnault’s luxury goods group having to up its offer to $135 a share. -
Uzpromstroybank, the BB-/BB- rated bank that is majority owned by the Uzbek government, had racked up more than $800m of orders by lunchtime on Monday for its five year dollar bond.
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The People's Republic of China is planning to raise around $6bn from its return to the dollar bond market on Tuesday.
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Fidelity National Information Services, the US financial software company, returned to the euro and sterling bond markets with a second multi-tranche deal in six months to raise €2.6bn-equivalent of debt on Thursday, though it printed fewer tranches than the market was expecting.
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The Kingdom of Morocco moved from roadshow to deal execution on Thursday with a 12 year bond that looked set for tight pricing.
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Financial institutions bond bankers expect that new deal flow will come to a standstill in the primary market at the end of next week, as investors close the lid on an agreeable year for returns.
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Alibaba Group Holding pulled off the year’s largest IPO this week, raising HK$88bn ($11.2bn) from its Hong Kong secondary listing. The company has given the stock exchange a much needed boost in morale, while signalling to other foreign-listed Chinese companies that they can come home. Jonathan Breen reports.
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High grade companies stormed the European bond market with an array of tranches on Wednesday, and investors snapped up the trades, despite it being so late in the year.
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CNP Assurances won healthy demand for a green tier two capital bond issue this week, as insurance companies begin to embrace the idea of printing capital instruments as socially responsible investments.
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Hong Kong’s PCGI Intermediate Holdings, a subsidiary of FWD, raised $250m from the bond market on Tuesday. While the company hit its size target, orders were limited and the price guidance was unchanged throughout the day.
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Industrials company Mytilineos is trekking around Europe, marketing half a billion euros of senior notes. This marks the first time the Greek conglomerate tries to tempt international high yield investors, possibly signalling growing global ambitions.
