JP Morgan
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Kazakhstan opened books on a dual tranche dollar bond on Tuesday morning, and is looking for at least $2bn, according to a source close to the deal. Debt bankers away from the bond felt confident size would not be an issue, but were divided over whether the start point was appropriate or very cheap. -
CVC stepped into the market on Monday evening after a strong day for European stocks to sell another chunk of Evonik Industries, the German chemicals company it floated in 2013.
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Indian shopping mall operator Phoenix Mills has raised $45m via a qualified institutional placement that resounded well with international long-only funds, even surprising those close to the deal with their strong interest.
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After a week’s hesitation, Deutsche Pfandbriefbank has gone ahead with its IPO, in a sign of confidence in the market – despite the ever uglier masses of cloud building over Greece and China. If it is completed, the deal will raise over €1bn, and be almost certainly the largest IPO left in the European market before the August lull.
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Block trades made a tentative return to the European equity capital market this week, though bankers had said on Monday that they did not think deals were likely.
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A pair of public sector borrowers were able to place larger than planned dollar benchmarks on Thursday.
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Poland has mandated four banks for a bond in euros or dollars.
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Nordic Investment Bank found a rich seam of demand in Norwegian kroner this week, enabling it to sell the largest SSA deal of the year in the currency.
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Manulife US Real Estate Investment Trust (Reit) has snatched away hopes of Singapore seeing its first sizeable IPO this year, delaying its plans for a S$569m ($426m) listing amid turbulence in global markets.
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Philip Morris International is looking to pare down its stake in Indonesian subsidiary HM Sampoerna, in a deal that could raise some $1.3bn. Five banks have been tapped the run the share sale, which could be the largest in Indonesia since 2013.
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A few IPOs remain in the market, although several have been pulled in the last few days — or, like that of Germany’s Deutsche Pfandbriefbank, put on hold.
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