JP Morgan

Ithaca Energy, a UK-based oil and gas operator, revised its bond terms to placate investors this week — marking a rare victory for the buy-side in a market that has offered ever weaker protection. Buyers for the bonds had been prepared to swallow Ithaca's original proposals, but demanded a double digit yield to do so, forcing the borrower to back down to hit its target price. Karoliina Liimatainen reports.

Investors pumped €2.25bn of demand into Italgas’s €600m 10 year note on Wednesday, leaving the deal nearly four times covered. That was despite a soft economic background and the more muted €1bn of demand Goodman European Partnership, the logistics Reit, had got on Monday for its €400m 10 year no-grow bond.

India’s Adani Ports and Special Economic Zone has bagged $650m from 144A/Reg S bonds to fund a tender offer of notes due next year, pricing the new issuance at a competitive level.

SSA names found the going varied in dollars on Tuesday, with the Inter-American Development Bank only just covering the minimum size of its tightly priced short end trade while Land NRW and L-Bank saw chunkier demand.

The European Investment Bank mandated banks for a sterling tap on Tuesday to keep supply running on course for a record year in the public sector bond market.

JP Morgan is growing its team dedicated to private equity capital markets transactions, as banks increasingly look to the space to make up for declining IPO volumes.

Chinese robotics company CloudMinds has started sounding out investors for a $500m IPO of American Depository Shares (ADS) on the New York Stock Exchange, according to bankers close to the situation.

Real estate investment trust (Reit) Fibra Terrafina sold $500m of 10 year bonds on Monday, with hefty tightening allowing the borrower to price closer to its largest Mexican rival than expected.

A trio of issuers burst into the sovereign, supranational and agency dollar market on Monday, as syndicate officials say they have been pleasantly surprised by how quickly the sector bounced back after a tricky period.

The consortium building the second line of the Lima and Callao Metro in Peru will meet bond investors this week as it looks to finance a mandatory redemption of a portion of the borrower’s existing notes caused by delays in the project.

JP Morgan has appointed Mark Fiteny to the newly created job of head of new economy for Asia Pacific.

Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.