JP Morgan
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UniCredit has sold the last of its stake in FinecoBank, its online brokerage business, for €1.1bn. This paves the way for chief executive Jean Pierre Mustier to present a new three year business plan to the markets in December. -
Two Mexican companies announced bond roadshows on Monday, in combination with buybacks of 2022 notes, as Latin American borrowers continue to try to use liability management to take advantage of low rates to refinance debt.
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Chinese online game streaming platform DouYu has launched a Nasdaq IPO, having delayed its plans in May amid tumultuous markets.
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Shimao Property Holdings and China Overseas Land and Investment took advantage of a strong market backdrop and renewed investor interest in duration to price seven and 10 year bonds, respectively.
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Corporate bond issuance in Europe has slowed, though demand remains strong, as evidenced by new issues on Monday for A2A, the Italian multi-utility, with a debut green bond, and Logicor, the warehouses group. Bankers expect appetite to remain steady but for the pace of issuance to be more sedate than in recent weeks.
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Carsten Woehrn will lead JP Morgan’s financial sponsors group for M&A in Europe, the Middle East and Africa.
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Oil and gas firm Ithaca Energy is to issue a new $700m unsecured bond as part of the financing for its acquisition of Chevron’s North Sea assets.
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Sovereign, supranational and agency borrowers have started the week with a bang, and syndicate bankers say they do not expect any slowdown of issuance in the coming days.
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FWD Group raised $550m from an unusual subordinated five year bond, just a few days after announcing a $3bn acquisition of one of the largest life insurance firms in Thailand, SCB Life Assurance.
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Guangzhou R&F Properties Co attracted a huge order book for its sixth dollar deal this year, while Hong Kong-listed Dafa Properties Group turned to anchor support for its inaugural offshore public bond.
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Pampa Energía followed YPF into the international bond markets on Tuesday as Argentine issuers returned after a 14 month hiatus. Investors believe there is scope for certain corporates and even provinces from the country to take advantage of renewed market access.
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