JP Morgan

Sok Marketler, the Turkish discount grocer, has set the range on its Istanbul IPO, valuing it at Tl6.9bn (1.7bn) to Tl8.3bn ($2.05bn).

Leads set price ranges in two African IPOs this week, which are coming to market against a backdrop of rising investor interest in Africa.

Growthpoint International opened books on its new dollar bond at 6% area on Tuesday morning. The issuer has picked a five year dollar bond after postponing a euro trade last year.

Metallurgical Corporation of China and BOC Aviation found strong investor support for their bonds on Monday, with the former bagging Asia’s first senior perpetual bond in more than a month and the latter walking away with an over six times covered transaction.

After strong first quarter results and in a receptive high yield market, online streaming service Netflix announced a new $1.5bn 10.5 year senior unsecured bond on Monday to finance new content for the platform, eventually walking away with $1.9bn.

Bookrunners revealed more than €3bn of new speculative grade deals from seven issuers in the European high yield market this week. Coupons are slowly widening in the primary market, but they are still hitting issuers’ pricing targets, said market participants.

NMC Health, the Abu Dhabi-based private hospitals company, had to revise the terms of its debut $450m convertible bond issue downwards on Monday after pushback from investors on the price.

On Monday, Dutch car leasing company LeasePlan added a €500m fixed rate bond to its 2018 issuance tally, but found more limited demand than its previous deals.

South Africa’s Growthpoint has concluded its final investor meetings and is expected to open books on a five year dollar bond on Tuesday. The issuer had been considering both euros and dollars after being forced to postpone a deal in the single currency last year.

Two corporate issuers are meeting investors for euro denominated bonds this week as the corporate funding season gathers pace.

BOC Aviation, Metallurgical Corporation of China (MCC) and Bumi Serpong Damai were the first out of the gates on Monday morning with their new bond deals, as the Asian debt market prepares for an onslaught of supply.

Ping An Healthcare and Technology has kicked off a highly-anticipated HK$8.8bn ($1.1bn) IPO, set to be one of Hong Kong’s biggest from the new economy sector this year.