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JP Morgan

  • Rating: B2/CCC+/BB-
  • South Africa state-owned utility Eskom’s return to the international bond markets on Thursday was hailed as proof of the faith investors have in Cyril Ramaphosa, the country's president. And it could well mark the beginning of the country’s rehabilitation in the debt capital markets as Eskom is widely thought of as South Africa’s biggest and most public financial problem. Francesca Young reports.
  • Public Investment Fund, the sovereign wealth fund that invests for the government of Saudi Arabia, is seeking global bank lenders for a debut loan. Banks, short of new deals in the region and eager to get closer to a country growing more reliant on capital markets, have been quick to show their interest. Silas Brown reports.
  • HDFC Asset Management Co has raked in Rp28bn ($407.9m) from its IPO after a big show of demand from institutional and non-institutional investors.
  • Mainland telecommunications infrastructure giant China Tower raised HK$54.3bn ($6.9bn) this week after getting its mammoth float across the line at the bottom of guidance.
  • India’s most valuable lender, HDFC Bank, showed why it deserves the title this week, as it bagged $2.2bn from a dual-tranche fundraising that combined soaring demand for its shares at home and abroad. John Loh and Jonathan Breen report.
  • Eskom, the South African state-run power company, has said it could print its dollar bond as early as tomorrow and has confirmed that it will sell both standalone and government-guaranteed tranches. Investors have a wide range of views on fair value.
  • Europe’s leveraged finance markets are having a hard time slowing down for their traditional summer break. Investors are willing to keep deploying cash and issuers are responding, with several deals scheduled to be priced in the next two weeks.
  • India’s HDFC Bank has raised $2.22bn through a qualified institutional placement and a concurrent sale of American Depository Shares (ADS).
  • South African state-run power company Eskom is aiming to print a total of $1.5bn and is expecting to sell both guaranteed and unguaranteed tranches of its bond, according to two sources close to the deal.
  • Taiwan Cement Corp has raised $549m from an overnight Global Depositary Shares sale after exercising part of the greenshoe and pricing at the low end.
  • South Korea’s Woori Bank returned to the debt market on Monday, raising $300m from a Basel III-compliant tier two bond.