JP Morgan

Jianpu Technology appears to have made the right call to price its $180m IPO on the New York Stock Exchange below the initial range, after its shares traded up on their debut on Thursday.

Two companies made their investment grade bow on Thursday as an improvement in sentiment encouraged borrowers to capitalise on decent conditions and wrap up funding in the final weeks of the year.

Central and eastern European real estate company Nepi raised €500m with its first trade as the newly formed Nepi Rockcastle on Thursday.

The supply of hybrid bonds continued this week, with an additional feature — both hybrids sold this week were certified as green bonds.

Croatia lengthened its euro curve this week with a €1.275bn long 12 year bond, drawing in a book of more than €3bn for the deal.

Single digit new issue premiums had survived the secondary market weakness in corporate bonds of the previous few days, but on Wednesday Vodafone had to pay up as it sold a three tranche deal significantly wide of where its existing bonds were trading.

Borrowers and investors marched on in the European leveraged finance markets this week, pricing €1.5bn of high yield bonds while bankers have been able to tighten terms on new loan deals during syndication. Deals pulled earlier in the week in the US are already a fading memory.

Croatia has tightened price guidance for its long 12 year bond and has an order book of over €3bn for the deal, which could be up to €1.275bn.

Edelweiss Financial Services has added Rp15bn ($229.6m) to its coffers after pricing its qualified institutional placement at the bottom of the range.

Central and eastern European real estate giant Nepi opened books on its first deal as newly formed Nepi Rockcastle on Thursday morning.

Shares in Nyrstar, the Belgian zinc and lead smelting company, fell 11.3% on Wednesday after it priced a €100m capital increase on Tuesday night to finance new investments.

Single digit new issue premiums had survived the secondary market weakness in corporate bonds of the last few days, but on Wednesday Vodafone had to pay up as it sold a three tranche deal significantly wide of where its existing bonds were trading.