JP Morgan
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Volkswagen Financial Services had been conspicuous by its absence in the euro corporate bond market in the first quarter of 2018. Having been the largest corporate issuer by volume in 2017, the company had used other markets so far this year before selling a new triple tranche deal. -
Turkcell İletişim Hizmetleri, the largest mobile operator in Turkey, has released initial price guidance for its 10 year dollar benchmark.
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Swiss telecoms provider Swisscomm found strong demand for its new corporate bond deal. However, investors were very clear on where they saw the value in the deal and the issuer had to pay significant spreads to ensure the deal’s success.
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Varroc Engineering and Atria Convergence Technologies have submitted their respective draft prospectuses to list in India within the next few months.
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South Korea’s Hanwha Life Insurance Co will meet international investors from next week ahead of a subordinated transaction. The issuer is one of many from the country that is looking to beef up its capital ratios, as the government gets ready to adopt new international accounting standards.
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Cherkizovo Group, Russia’s largest meat producer, has launched a $300m-plus secondary public offering on the Moscow Exchange to boost liquidity in its stock and raise funds for acquisitions and debt repayment.
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State-owned holding company Investment Corporation of Dubai (ICD) has successfully refinanced a loan maturing in June with a club deal.
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US beauty retailer Coty announced pricing at the wide end of guidance for its $2.45bn-equivalent of new leveraged loans on Thursday, while reaching the end of the roadshow for $2bn-equivalent of new high yield bonds.
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Baidu-backed video streaming platform iQiyi has raised $2.25bn after pricing its Nasdaq IPO at the mid-point of guidance, according to a banker close to the deal.
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Volatility from several sources has driven investors into core govvie products, causing curves to rally. Only one issuer was positioned to reap the benefits.
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High-grade dollar bond supply continued to flow with a flurry of smaller deals this week but bankers see little to cheer about as a disappointing first quarter drew to a close.
