JP Morgan
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Belgian chemicals manufacturer Solvay sold its first public corporate bonds for three years on Tuesday when it reopened the European hybrid bond market, which has not seen a new issue since September. Despite the recent dearth of issuance, the market is still set to record an increase of more than 57% on 2017’s total volume. -
Taiwan Cement Corp printed a $400m convertible bond linked to the Taiwanese dollar on Monday, marking its first equity-linked issue in over a decade.
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The African Development Bank mandated banks on Monday for the first green bond linked to the Secured Overnight Financing Rate, Sofr.
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Instituto de Crédito Oficial (Ico) is eyeing up its first ever green bond in 2019 following a series of social bonds.
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Takeda Pharmaceutical, the Japanese firm buying UK rival Shire, defied tough market conditions to press ahead with a $5.5bn trade to help fund its $62.5bn acquisition ahead of the Thanksgiving holiday.
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Bankers in the corporate bond market still have a number of deals on their pads to try to execute ahead of the end of 2018. None was successful this week, but that hasn’t dented their ambition.
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India’s Housing Development Finance Corp (HDFC) sold a privately placed offshore rupee bond this week, giving an inkling of hope to what has been a lacklustre market.
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Babytree Group and Tongcheng-Elong Holdings both got their Hong Kong IPOs past the finish line this week, as equity markets globally continue to get battered by volatility.
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Chinese property developer Country Garden Holdings has pocketed HK$7.83bn ($1bn) after using a call spread for a concurrent new issue and buy-back of existing convertible bonds — a popular structure in the US but groundbreaking for Hong Kong. Jonathan Breen reports.
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US medical technology company Stryker is still looking to bring its debut euro transaction following its recent roadshow, but is waiting for market conditions to improve before pushing its triple-tranche offering into the market.
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Online travel agent Tongcheng-Elong Holdings has raised HK$1.41bn ($180m) from its Hong Kong IPO. The leads on the deal had to spend time convincing a number of anchor investors to stay in the transaction given the state of the market.
