JP Morgan
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Austrian oil and gas company OMV sold the first corporate hybrid deal in four weeks on Tuesday when it sold a €500m perpetual bond with a non-call six year structure which was more than three times subscribed. -
Several issuers took new deals on the road in the second half of May and early June, but have struggled to find a window to execute their deals after the roadshows were completed. Recruitment firm Manpower met investors from June 6 to June 8 before selling its deal on Tuesday.
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China Aoyuan Property Group raised a larger than planned $225m from a tap of its existing note on Monday, but had to pay up for the transaction. A Chinese local government financing vehicle (LGFV), on the other hand, fell short of its size expectation.
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SSA borrowers are streaming into the euro market, flooding the early part of the week with deals in an effort to secure funding before a slew of central bank meetings towards the end of the week.
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Medical diagnostics firm Unilabs launched a benchmark size extension of its loan debt on Monday, as a range of investors clamour for paper despite issuance volumes running ahead of last year’s record pace.
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The IPO of Adyen, the Dutch payments processing company, is due to be priced at €240 a share, the top of the initial range, after the deal has attracted “unprecedented” levels of interest from investors.
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In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.
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NH Investment & Securities added W245.6bn ($228.4m) to its coffers from an overnight sell-down in Hyundai Steel on Thursday, pricing the trade in the middle of the indicative range.
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Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.
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Hong Kong was a hotbed of accelerated bookbuild activity this week as two biotechnology firms and a property developer raised a combined HK$6.7bn ($854m) in primary and secondary equity.
