JP Morgan

Oman locked down $1.5bn this week, pricing “wisely” with a decent new issue premium and kicking off a busy few weeks of issuance from the Gulf Corporation Council’s oil rich, but cash poor, sovereigns as Bahrain and Saudi Arabia ready trades.

A chaotic start to the week for the euro corporate bond market saw one deal pulled on a combination of soured sentiment and aggressive pricing, causing issuers to engage in a balancing act before risk appetite returned in force at the end of the week.

France's Total became the second European issuer of a corporate hybrid in two days, following EnBW’s successful deal on Wednesday.

Investors threw off the caution on Thursday that saw them hesitate over lower-rated investment grade corporate bond deals offering low spreads on earlier in the week.

Dutch plastic packaging manufacturer Schoeller Allibert priced its debut €210m five year bond on Thursday, after strong recent results, while Norwegian Air Shuttle looks to tap its 2019s, following its failure to issue notes earlier this year.

PKO Bank Hipoteczny has mandated leads to go on a roadshow with the first euro benchmark covered bond from Poland.

Honma Golf priced its Hong Kong IPO near the top of expectations on Thursday, raising HK$1.34bn ($172.7m) for the Japanese maker of premium golf clubs as long-only funds climbed onboard.

Romania achieved a wafer-thin new issue premium for a €1bn reopening of its May 2028s on Wednesday.

Pilipinas Shell Petroleum Corp, the local arm of oil and gas conglomerate Royal Dutch Shell, has started sounding out investors for its upcoming Ps29.7bn ($614.9m) IPO. It is coming at a time when the country’s equities market and currency have been volatile, but early signs suggest the issuer is set to defy the challenges. Jonathan Breen reports.

Fullerton Healthcare Corp plans to raise up to S$270.8m ($199m) in an IPO on the Singapore Exchange, launching the deal on Thursday.

Hong Kong conglomerate New World Development benefited from a market pick-up on Wednesday, with its strong household name helping it raise $1.2bn from a perpetual non-call five bond.

Construction equipment maker Doosan Bobcat and Netmarble Games are on track with their respective IPOs, with the former set to become the largest listing in South Korea since 2012.