JP Morgan
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Empresa Nacional de Petróleo (Enap), the Chilean state-owned oil company, will begin meeting investors on Monday ahead of a planned first dollar bond in nearly two years.
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The privatisation of Enav, the Italian air traffic control system, reached a successful conclusion on Thursday, proving that large IPOs can still happen in the post-Brexit equity market, even in Italy, where stocks have been hit hard.
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Pirelli’s €4.8bn refinancing loan has found strong demand, as roughly 20 banks will join it, and it was well oversubscribed. Some banks declined to participate, however, and one banker said the borrower was "taking the mickey" with the terms of the deal.
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In this round-up, China eases rules on foreign investment in the free trade zones (FTZ) and OTC Clear receives approval to clear CNH cross currency swaps (CCS). Plus, a recap of GlobalRMB’s top stories this week.
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Argentine electricity generation company Albanesi raised prospects of market access for small corporates from the country with a $250m seven year non-call four bond on Wednesday.
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European Central Bank president Mario Draghi has in effect told market participants to come back after summer if they want to see any further monetary stimulus — but belief that such stimulus is on the way helped a trio of euro deals this week.
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US banks coming out of earnings blackouts provided all the fare in FIG this week, and deals flew to investors who have seen almost no paper since mid-June.
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Shares in Kion Group, the world's second largest maker of forklift trucks, traded up more than 5% on Tuesday after it completed a 10% capital increase to partly finance its acquisition of Dematic, a Luxembourg-based firm specialising in automation and supply chain optimisation.