JP Morgan

Evofem Holdings, a company backed by Invesco and Woodford Investment Management that is developing woman-controlled, hormone-free contraceptives, has abandoned an attempt to raise up to $200m of new money for the company by floating on Aim.

The bookbuild for the initial public offering of Senvion was completed a day early, on Monday evening, and resulted in a price near the bottom of an already much lowered price range.

Unédic and the European Stability Mechanism nipped in ahead of the Easter holiday to print euro benchmarks, in seven and 20 year tenors, respectively.

The private equity owners of German wind turbine maker Senvion have grudgingly relaunched its Frankfurt IPO, just five days after pulling it on low demand. The new deal is half the size of the earlier one, and implies a valuation €300m lower.

Unédic and the European Stability Mechanism are set to price euro deals this week, taking advantage of a window before the start of the Easter holidays later this week.

There were no FIG deals in the market on Monday morning after last week’s splurge of issuance, but sentiment remained positive and market participants said the post-ECB meeting rally could continue up until Easter.

Argentine state oil company YPF sold $1bn of five year notes at a new issue premium close to flat on Friday as the threat of an imminent flood of supply from Argentina did nothing to quell demand.

Azerbaijan's Southern Gas Corridor Company printed its $1bn 10 year bond on Thursday 80bp back of the sovereign curve, benefiting from an explicit state guarantee.

South Korea’s Shinhan Bank made a strong impression on bank capital investors this week, pricing a 10 year bullet tier two. Some of the credit for the transaction’s success goes to the fundamental strength of the issuer and the investor-friendly structure of the bond, but market participants say Shinhan’s willingness to pay up also deserves kudos.

Chinese e-commerce group Alibaba is understood to have seen a good turnout for a roadshow held on Thursday for its $3bn syndicated loan. Bankers reckon the pricing and the potential use of proceeds contributed to the appeal.

A postponed deal as issuers clashed in the SSA market left a blemish on a strong week for the improving public sector dollar bond market. But such occurrences may well become the norm as issuers crowd in to narrow windows, writes Craig McGlashan.

Senvion, the German wind turbine maker, pulled its €700m IPO on Wednesday morning, after a difficult bookbuild that failed to deliver a covered book.