JP Morgan
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Russian borrowers are wasting no time in dealing with $7.3bn of their corporate bonds about to come due. -
Shares in Tullow Oil, the Anglo-Irish oil and gas drilling company, closed 5.5% higher on Thursday on an adjusted basis, after they began trading ex-rights before its £607m rights issue.
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Ant Financial subsidiary Alipay (Hong Kong) Holding has launched a $3bn debut syndication via a nine-member bookrunner group. The strong showing at the top is driven by opportunities to cross-sell higher fee-generating products such as private banking, equity advisory and underwriting services to the Alibaba Group-affiliated borrower, reports Shruti Chaturvedi.
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Africa Finance Corporation was on track to print a seven year bond on Thursday and had taken orders of $1.9bn on Thursday morning.
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Gestamp Automoción, the Spanish car parts maker, has completed the largest Spanish IPO of the year so far, having priced the deal at the bottom of its initial price range late on Wednesday.
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Argentinian supply resumed on Wednesday as Tarjeta Naranja and Province of Tierra del Fuego both kicked off pricing on new dollar deals.
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Indonesia’s triple-C rated Indika Energy priced a $265m bond on Monday on the back of a nearly five times subscribed book. The issuer’s rating story was complicated by downgrades over the past year, but investors were willing to consider its likely future as a B2 rated credit. Morgan Davis reports.
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India’s JSW Steel raised $500m from its new five year notes on Wednesday, finding strong support from European accounts familiar with its credit and business.
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The dollar market was on spectacular form on Wednesday, with a Canadian province pushing out a rare 10 year bond, a supranational smashing its size record and a $4bn five year from a German agency.
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SR Boligkreditt has issued its first Reg S dollar covered bond, and though the book was slow to build the issuer found enough demand to ensure the deal was eligible for bank liquidity portfolios in the liquidity coverage ratio (LCR).
