JP Morgan

HDFC Standard Life Insurance Co (HDFC Life) has mandated four houses to run its IPO, which will be India’s first listing by an insurance company.

Yadea Group Holdings has opened books for its HK$1.86bn ($239.69m) IPO in Hong Kong, with the electric vehicle maker signing on $30m worth of commitments from two cornerstones.

A HK$9.7bn ($1.25bn) sell-down in Chinese insurer PICC Property and Casualty Co last weekend has injected some welcome activity into Asia’s block market, which has seen limited business since the start of the year. The success of the deal in the primary and the secondary market is expected to inspire potential sellers to take action. Jonathan Breen reports.

Barclays has this evening executed a R13bn ($900m) accelerated bookbuild in shares of Barclays Africa Group, its separately listed South African subsidiary, as the first stage in its already announced plan to divest the bank. The trade was covered in 35 minutes and multiple times oversubscribed.

JP Morgan’s head of syndicated and leveraged finance Australia has left the bank, with the head of European loan trading having resigned also, sources with knowledge of the matter have confirmed.

The failure of the IPO of Banca Popolare di Vicenza leaves full responsibility for the bank’s future with the hastily put together Fondo Atlante — and is a poor omen for the listing of Veneto Banca, due to roll forward after a shareholder meeting this week.

Chemicals producer Inovyn on Tuesday began the roadshow for a €300m secured bond that will replace a portion of term loan ‘B’ funding being issued to support its full takeover by Ineos.

Slovenia is offering a $750m buy-back across its dollar 2022s, 2023s and 2024s and is looking to fund it with proceeds from a new euro-denominated bond.

Mubadala Development Company has mandated six banks for its first dollar benchmark since 2014 — making it the first public international bond with Peter Turney, an ex-Mitsubishi and BNP Paribas DCM banker at the helm.

Argentine province Neuquén launched an exchange offer for its existing senior secured 2021s on Monday, the same it began a three day roadshow with fixed income investors ahead of a potential new 12 year deal backed by oil and gas royalties.

Colombian lender Banco de Bogotá is looking to issue up to $1bn of tier two 10 year notes, although Moody’s said that the bonds will do little to address the bank’s low capital ratio.

Banca Popolare di Vicenza’s board is to meet later this afternoon to consider the results of its €1.5bn IPO, for which the bookbuild closed earlier today (Friday April 29).