JP Morgan
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German residential property company Grand City Properties brought its third corporate bond deal of 2018 to the market on Tuesday, while the return of seed company Syngenta with a jumbo multi-tranche deal neared. -
Singapore’s United Overseas Bank made its first foray into the US market on Monday, raising $1.2bn from a two-tranche transaction, receiving strong support from US accounts.
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Hanwha Life Insurance Co became the latest South Korean name to raise funds from the dollar bond market on Monday, as the country’s insurance firms prepare to adhere to new capital standards.
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The International Development Association, part of the World Bank Group, is on screens with its debut bond issue. The trade is offering a handful of basis points over seasoned World Bank Group issuer the International Bank for Reconstruction and Development (known as World Bank), according to bankers away from the mandate.
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French shopping centre operator Unibail-Rodamco said in December it planned to sell around €2bn of bonds to refinance the bridge loan it has taken on to fund its $15.7bn acquisition of its Australian peer Westfield Corp. On Monday, it brought the deal to market and received reassuring demand.
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German building materials company HeidelbergCement sold its first trade of 2018, replicating its last deal of 2017. It also priced the new deal at a spread close to that it paid in 2017.
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FirstRand Bank was on track to open the market for South African tier two issuance ahead of Barclays Africa, which is lining up a trade for later this week.
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The IPO of IBS IT, a Russian technology company, was postponed on Friday due to “increased market volatility” driven primarily by US-led sanctions against Russia. According to Nikki Haley, US ambassador to the UN, more might be coming.
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Growthpoint, the Johannesburg-listed property company, is returning to the market after its deal was derailed last December by the fall of retail giant Steinhoff.
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A decent start to the week gave way to caution as escalating geopolitical concerns slammed the brakes on US high-grade dollar supply.
