JP Morgan
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China’s Cofco Meat has begun pre-marketing a potential $300m Hong Kong IPO and is set to open books within two weeks, according to bankers close to the deal. -
It was all going so well for Italy. Its entry to the 50 year bond club on Tuesday pulled in a monstrous €18.5bn of orders. But almost immediately the bond became tradeable, the market frothed with talk of the European Central Bank tapering QE, sending Eurozone periphery bonds into a tailspin to remind everyone just how much markets are in the grip of central bank policy. Lewis McLellan reports.
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The Republic of Namibia, which has outlined plans to issue around $5bn of loans and bonds over the next 10 years, is to undertake a non-deal roadshow with fixed income investors in the US and UK.
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The second block trade in Refresco Gerber, the Dutch soft drinks bottler, since its €563m IPO in March 2015, came on Wednesday night.
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Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.
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The Inter-American Development Bank, a Canadian sub-sovereign and two Danish agencies offered chunky issuance to the Kangaroo market this week. The SSAs took advantage of Asian accounts looking to work their cash at the 10 year part of the Australian dollar curve.
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Hannele Pokka, the Finnish minister for the environment said, in an exclusive interview with GlobalCapital, that she believes the ratification of the Paris Agreement, the first ever universal, legally binding climate accord struck in 2015, will spur on the green bond market’s development.
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India’s UPL Corp executed its first dollar-denominated bond on Wednesday, benefiting from a quiet primary market, the strength of its credit and an extensive marketing effort beforehand.
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The Philippines is set for one of its largest IPOs this year as Pilipinas Shell Petroleum Corp starts taking orders for a potential Ps19.3bn ($399.0m) listing.
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Chinese data firm GDS Holdings has begun pre-marketing its $300m US listing with bookbuilding expected in the next two weeks. Logistics company ZTO Express has also chosen to float in the US.
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For the nine months through September, Morgan Stanley topped the Asia ex-Japan ex-onshore China ECM bookrunning league table with $9.41bn in deals, according to Dealogic. It was also the only bank with double-digit market share.
