JP Morgan
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US banks reporting earnings in the third quarter ubiquitously saw steep upturns in revenues from fixed income trading, despite some seeing overall falls in year over year revenues, as divergences of opinion on the Federal Reserve’s plans for interest rates caused increased trading in bonds.
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Wall Street’s biggest firms wasted no time hitting the dollar market with total loss absorbing capacity (TLAC) related deals after unveiling a strong recovery in third quarter earnings. -
In a troubled new issue market strewn with casualties, the $1.8bn-plus IPO of ConvaTec, the UK medical supplies maker, got covered at its base size on Tuesday, while Misys, the London-based banking software producer, opened the books for its £650m-£750m IPO with a lower free float than initially planned.
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Polish banks will be anxious to follow PKO Bank Hipoteczny which on Monday enjoyed a superb reception for its euro benchmark covered bond — the first from the country. Bill Thornhill reports.
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While Access Bank safely landed its dollar Eurobond last week, the outlook for Nigerian banks seeking new loans is cloudy.
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Shares in Biffa, the UK waste disposal company, have traded flat to fractionally down this week, after it got its IPO done by cutting the price by a fifth from the bottom end of the range.
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China Resources Pharmaceutical Group, Samsung BioLogics and ZTO Express all have investors clamouring to join their IPOs, as they look to raise a combined $5.2bn.
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Chinese data firm GDS Holdings has opened its potential $270.2m US IPO, which is expected to replicate the strong interest received by other recent listings in the country from Mainland names.
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JP Morgan is looking to sell its stake in its China joint venture with First Capital Securities, which began operations in 2011.
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China Great Wall Asset Management Corp launched its dual-tranche offering on Thursday morning.
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Bayer has released the names of the banks in its $56.9bn loan for the acquisition of Monsanto, the jumbo deal tickets have bumped up some lenders in European league tables.
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Food and drinks giant Nestlé has signed €10.5bn of loans to refinance five and one year deals. The company refinanced to secure a similar group of banks in both deals, according to one banker.
