JP Morgan

Old loyalties and simmering disputes are dictating the winners and losers in the race for top billing in Italian FIG, writes David Rothnie.

Just a week after its first dollar denominated benchmark, SNCF Réseau has announced that it will issue its first green bond.

Doosan Bobcat is guiding investors for its W2.4tr ($2.2bn) IPO in South Korea to a price that is 15% below the bottom of the marketing range, according to bankers close to the trade.

Block issuance has been active this week, with three notable accelerated bookbuilds all sold well. Monday also brought the announcement of what could be the largest IPO in London this year.

GDS Holdings, which is heading to the US to go public, has begun premarketing its IPO, with bookbuilding expected in the next two weeks, according to a source close to the transaction.

India’s UPL Corp opened books for its inaugural G3 bond on Wednesday. It is the only deal to have launched so far this week in Asia ex-Japan with China on a one-week holiday to celebrate its National Day.

Two equity block trades came out in the European market on Tuesday evening, both of which achieved successful sales.

The Inter-American Development on Tuesday extended its Kangaroo curve with an April 2027 issue. The new bond is, in effect, replacing IADB's June 2026 bond, the borrower said.

St. Louis-headquartered Belden, the communications equipment manufacturer, launched €200m of 10 year non-call five notes on Tuesday morning, as the high yield market looks to maintain issuance momentum following a bumper September.

Nets, the largest Nordic digital payments processing company, has confirmed that Deutsche Bank stabilised its share price after its IPO on September 23, when the company’s share price closed at Dkr145, down 3.3%, on its first day of trading.

Samsung BioLogics Co has started gauging investor interest for an up to W2.25tr ($2bn) IPO on the main Kospi board in South Korea, with bookbuilding set to begin in mid-October.

One of the most regular names in Europe’s equity block trade market, Abertis Infraestructuras, was the subject of another deal on Monday night, with regular bookrunners UBS, Bank of America Merrill Lynch and JP Morgan at the helm.