JP Morgan
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Islamic Development Bank is expected to raise $1.5bn with a five year sukuk on Wednesday. -
Shinhan Bank of South Korea managed tight pricing on its Basel III-compliant tier two deal on Monday. Investors overwhelmed the $400m transaction with orders that covered the book more than seven times at its peak, thanks in part to its rare 10 year tenor but also as a result of its status as Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond. Morgan Davis reports.
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Goldman Sachs said that its equity underwriting pipeline swelled during the first quarter, with IPO interest rising among technology companies.
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The Islamic Development Bank has announced initial price thoughts for a five year sukuk dollar bond — its first since a euro benchmark in November 2018.
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First Abu Dhabi Bank has printed two sterling private placements in the last week — the most recent Tuesday morning’s £120m note through JP Morgan — adding to a flurry of sterling trades from the Middle East.
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Shriram Transport Finance Co turned to US investors on Monday to help seal a $500m high yield bond, just weeks after selling a $400m Reg S trade.
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South Korea’s Shinhan Bank sold Asia’s first dollar-denominated UN Sustainable Development Goals-linked bond on Monday, raising $400m from the Basel III-compliant tier two deal.
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On Friday, JP Morgan and Wells Fargo posted falls in investment banking revenue for last quarter. But debt underwriting business was a bright spot for both banks.
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Indian metals and mining company Vedanta Resources courted the market on Thursday for its first bond since delisting from the London Stock Exchange late last year. While the delisting raised some questions for investors, the deal ultimately pulled in $1bn for the issuer.
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The financial institutions bond market was confined to a handful of small trades this week, as Wall Street self-funders prepared to pull the trigger on multi-billion trades after reporting season.
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Sentiment in the dollar corporate bond market remained upbeat this week, even after jumbo deals from Broadcom and Saudi Aramco traded softly.
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