JP Morgan
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The Arab Republic of Egypt printed its $4bn triple tranche bond on Tuesday from a book that peaked at $12.5bn, despite another EM issuer — Russia's GTLK — having to postpone because of market volatility. A rival syndicate banker called the note cheap, but necessarily so. -
GTLK, Russia’s state transport leasing company, on Tuesday postponed its dollar Reg S seven year amortising bond, blaming “broader market volatility” for the move. But investors looking at the note said the postponement was more a sign of the buyside becoming more discerning.
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JP Morgan has become the first non-Chinese financial institution to get an official renminbi clearing bank licence, joining Bank of China's New York branch as the second such firm in the US, the People’s Bank of China said on February 13.
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The two Turkish IPOs priced this year are trading roughly in-line with their listing prices, despite recent outflows from emerging market ECM. But it is too early to judge whether this represents a positive outlook for Turkish ECM this year, according to sources.
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GTLK, Russia’s state transport leasing company, is adding to the flurry of Russian bonds printed since the start of this year, but leads have been unable to crunch the final yield tighter from initial price thoughts.
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US chip maker Broadcom has received commitments from 12 lenders for a staggering $100bn funding package to finance its acquisition of technology company Qualcomm.
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Kenya has mandated banks for its first Eurobond since 2014, and is looking to extend its curve by 24 years to join the handful of sub-Saharan African borrowers that have tapped the 30 year part of the curve.
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Indian micro-finance lender Spandana Sphoorty Financial is in the process of mandating banks for a potential $150m IPO, according to a banker at a firm pitching for the deal.
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Umicore, the Belgian materials technology and recycling group listed on Euronext Brussels, braved volatile equity markets on Thursday to raise €891.5m of new equity.
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Lincoln National showed the resilience of the US high-grade as it racked up a bumper order book and enjoyed tight pricing.
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