JP Morgan

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.

South Africa has opened books on a dual tranche 2028 and 2046 dollar bond after a turbulent summer and while the generous starting price is likely to generate momentum in the book, fears of a downgrade overhang the transaction with one investor telling GlobalCapital he saw better value elsewhere.

Panama’s Global Bank has announced a tender offer for its structured covered bond.

A range of credits from India, Malaysia and Greater China stormed the Asian debt market on Thursday, vying for investor attention.

The European Investment Bank has pushed the green bond curve out to the unprecedented length of 21 years with a new issue on Wednesday.

Steinhoff, the South African retail group, has completed a €2.45bn capital increase supported by one of South Africa’s richest men, Christoffel Wiese, and the Public Investment corp, of which €556m was raised through an accelerated bookbuild which ended up being nearly four times oversubscribed.

Agence France Trésor tapped into strong pent-up demand to draw a bumper book and print its largest inflation linked benchmark since the 2008 financial crisis — despite offering just a few basis points of new issue premium.

The euro corporate hybrid market reopened on Wednesday as Energie Baden-Wuerttemberg sold the second leg of its intended two currency deal, the first part of which was said by onlookers to have been subject to poor market conditions early in the week.