JP Morgan
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Indian real estate major DLF bagged Rp31.7bn ($458.7m) this week after wrapping up its qualified institutional placement (QIP), with investors winning a near 5% discount to the floor price. -
JPM securitization banker leaves — Goldman Brexiter quits for politics — Balax enrols in fintech course
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Rating: Baa3/BBB-/BBB-
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Romania printed a €3bn triple trancher this week, the country’s largest ever euro deal, with one of the three tranches also being the longest ever euro bond from the country.
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A series of modest taps at the long end of the Australian dollar curve at the end of last week suggests that what has been a quiet market for Kangaroo bonds could soon spark into life, according to SSA funding officials.
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The European leveraged finance market is heating up, as long-awaited deals for the buyouts of UK plastics company RPC and German online listings firm Scout24 break cover. The two chunky deals will deliver much needed new money supply after a sluggish start to the year.
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State oil company Saudi Aramco is expected to tap the bond market in the next fortnight for a deal that could be anywhere in the region of $7bn-$15bn, according to bankers in the region away from the deal. Estimates of the premium Aramco will have to pay over the Kingdom of Saudi Arabia curve is being discussed as negative to plus 15bp, depending on the size of the deal.
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Chinese streaming platform iQiyi, which is backed by internet giant Baidu, tapped the equity-linked market this week with a record-breaking deal — the largest American Depository Shares (ADS) convertible bond — and could help boost issuance in the asset class. Jonathan Breen reports.
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Telecoms company Cable & Wireless, which operates mostly in the Caribbean, added $300m to its longest dated bond on Wednesday in a deal that received strong backing from US high yield buyers.
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Evraz raised $700m with a five year bond on Wednesday as it returned to the fixed income market for the first time in two years. The company used the proceeds to finance a tender offer of its April 2020s.
