JP Morgan

Zhongsheng Group Holdings has raised HK$3.9bn ($500m) from a 2023 convertible bond. It plans to use the proceeds to buy back its debut CB, executing a deal with a rare structure, according to a source close to the transaction.

Hungarian fertiliser company Nitrogénművek has released initial price guidance for its €200m seven year non-call three bond.

JP Morgan has made cuts to its European equity research division, with two of its lead analysts leaving the bank.

The Republic of Ghana is heading off on a roadshow for 10 and 30 year bonds, with a tender offer for its existing 2022s and 2023s attached to the transaction.

Hungarian fertiliser company Nitrogénművek has completed a roadshow ahead of an expected €200m seven year non-call three Reg S/144A bond. It is expecting to price the deal “as early as tomorrow [Thursday]”.

The JP Morgan Emerging Markets Bond Index is at its widest since 2016 and the Rusal problem for bondholders persists, but the CEEMEA bond market continues churning out deals.

Despite expectations of a slowdown in the pace of issuance in the European high yield market, two borrowers brought €2.9bn of new bonds this week. Both issuers, Spanish construction firm Aldesa and Italian banking payments group Nexi, marketed refinancing deals.

Bahrain’s Oil and Gas Holding Company (Nogaholding), which is 100% state owned, is looking for seven year funding.

Ping An Healthcare and Technology priced its HK$8.8bn ($1.1bn) IPO at the top of guidance after a flood of demand from local and international investors.

Bromford Housing Association issued its first public bond on Thursday, six years after starting its capital markets voyage with a private placement.

Energo Pro, a hydro power plant operator and electricity distributor in Bulgaria, Georgia and Turkey, opened books for its €250m bond issue at 4.5%-4.75% on Friday, higher than the low to mid-4% it originally indicated.

Three firms have submitted their listing applications in Hong Kong as the city’s IPO filing season goes full steam ahead.