JP Morgan
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UniCredit surprised investors with its speed when it sold a €1bn block in FinecoBank on Tuesday — the same day it announced that it would seek to reduce its stake in the online brokerage.
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Russian Railways is embarking on a roadshow to market its first green bond, which DCM bankers say is the first international green bond from the country. It it entering the market despite a round of US sanctions seeming to be on the way.
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Chinese e-sport streaming platform DouYu is waiting for more stable market conditions before commencing pre-marketing for its $500m IPO of American Depository Shares (ADS).
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Three new high yield issues were launched into marketing in Europe on Tuesday, including a pay-if-you-can bond, even though the market was a bit weaker after President Donald Trump’s sabre-rattling about raising trade tariffs on China.
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The formal separation of FinecoBank, the Italian online brokerage, from UniCredit has begun with Italy’s biggest bank selling almost half stake to institutional investors via an equity block trade – a strategy UniCredit has used numerous times in the past to shed non-core assets under its CEO Jean-Pierre Mustier.
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The European Investment Bank is out with initial price thoughts on a $3bn 2024 bond, offering investors a premium to its bigger five year deal in January.
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The European Stability Mechanism offered very little new issue premium on a pair of taps to wipe out its €2.5bn funding needs for the second quarter in one go.
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Tencent Holdings has seen an impressive rally in the secondary market for its recently issued dollar bonds, a reflection of strong investor appetite for investment grade supply amid underwhelming issuance volumes in 2019.
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General Atlantic and Index Ventures, two pre-IPO shareholders in Dutch payments firm Adyen, hit the market on Thursday night to sell a €750m block of shares in the company.
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The shares of Chinese plastic surgery social network So-Young International surged on their first day trading on the Nasdaq, after the firm priced its hot IPO at the top of guidance.
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China’s Zai Lab has priced a follow-on sale of 7.8m American Depository Share (ADS), its second since its listing on the Nasdaq.
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US bond bankers are looking forward to a bumper May, with a slew of big ticket M&A financings set to hit the dollar market within days. Bristol-Myers Squibb announced a roadshow on Thursday for a deal that is expected to be around $21bn, to help fund its acquisition of Celgene.