JP Morgan

Gulf International Bank (GIB) has picked banks for a five year dollar benchmark, joining the stream of high quality issuance from Middle Eastern borrowers.

Thailand Future Fund is due to announce a timeline for its long-delayed listing next week, as it gets ready to kick off bookbuilding in mid-October.

Embassy Office Parks Reit filed for India’s first property trust this week, pushing ahead with an IPO that has been in the works for years. The joint venture of Blackstone and its local partner will be hoping to exorcise the ghosts of infrastructure investment trusts (InvIt) past, with the pressure on for a successful outcome. John Loh reports.

Thai energy drinks manufacturer Osotspa has launched bookbuilding for its potential Bt15.1bn ($465.1m) IPO, set to be the country's largest listing so far this year.

World Bank is set to become the second supranational to issue a floating rate note referencing the Sonia benchmark, after mandating banks on Wednesday. The deal is expected to launch “as soon as Thursday” amid strong demand for the product from bank treasuries, according to one of the leads.

JP Morgan has begun an agency clearing service for Australian and New Zealand dollar denominated over-the-counter (OTC) derivatives, becoming the first OTC clearing participant on the Australian Securities Exchange (ASX) to do so.

The chair of the influential UK Treasury select committee, Nicky Morgan, told a conference of derivatives bankers, lawyers and regulators, that despite the threat of “serious problems” for cross-border derivatives contracts in a Brexit no-deal scenario, she was “reasonably confident that a no deal scenario will not cause the whole sector to fall over”.

NRW.Bank nipped in ahead of this week’s Federal Open Market Committee meeting to tap keen investor interest in dollars on Wednesday, pricing a deal that on-looking bankers said was flat to its curve.

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies.

Hungary printed its €1bn seven year bond on Tuesday with the lowest ever coupon and yield for a dollar or euro bond from the issuer.

US asset manager Pinebridge is positive on credit markets in the short to medium term, but the outperformance of assets in the past three years has increased the probability for a credit downturn according to a recent report it published.

Thailand Future Fund is due to announce a timeline for its long-delayed IPO next week, with bookbuilding set to kick off in mid-October.