JP Morgan

Forterra and Mediawan have closed and completed their IPO bookbuilds this afternoon, though Forterra’s will be priced at the bottom end of the range.

The Province of Ontario on Wednesday became the second Canadian issuer to print a 10 year dollar benchmark this month, adding to a recovery in issuance at that part of the curve.

State-owned Georgian Oil & Gas Company crunched pricing from guidance on Tuesday to print a $250m five year bond with a 7% yield.

State-owned Indian Railway Finance Corp (IRFC) has selected six banks to work on an offshore rupee-denominated bond, also known as Masala bond.

Bond investors woke up to a pair of investment grade Asian issuers on Wednesday with the government of Malaysia seeking bids for a dual-tranche wakala sukuk and BoC Aviation looking to close a conventional 10 year.

Tightening pricing to well inside what many market participants had expected did not prevent Argentina holding onto the bulk of its $69bn book and printing more bonds than it had planned on Tuesday in one of the most remarkable trades in recent memory.

Banca Popolare di Vicenza’s mainly retail shareholders will be left owning just 0.66% of the bank if its €1.5bn IPO is priced at the bottom end of the price range. That the IPO and capital increase would be highly dilutive had been clear for some time, but the publication of the price range today makes it possible to put numbers on this for the first time.

State owned Georgian Oil & Gas Corporation has released initial price thoughts for its dollar bond, which a lead manager estimated offered around a 50bp new issue premium.

Argentina could hardly have asked for more from Monday’s book building for its return to international bond markets as investors rushed into the largest ever order book for an emerging markets deal.

Distribuidora Internacional de Alimentación, the Spanish discount food retailer, issued €300m of five year bonds on a busy Monday when there were two other deals in the market.

Several of Europe’s IPOs moved forward today, with coverage and pricing updates and the launches of bookbuilds.

Eurofima was the sole issuer testing the euro waters on Monday, with bankers expecting a quiet second half of the month in the market after a frantic start to April in which issuers placed 12 benchmark deals.