JP Morgan
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Ageas Hybrid Financing, a unit of Belgian holding company Ageas, which owns insurer AG Insurance, wrapped up a tender of a €500m 5.125% perpetual bond on Monday.
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Taiwan’s TPK Holding is tapping the equity capital markets to raise $286.4m from a combination of placement and a convertible bond, with the latter issuance marking Asia ex-Japan’s very first $100m-plus equity-linked product for the year. -
Steel and mining company ArcelorMittal on Monday priced two senior unsecured high yield bonds inside price guidance: a three year floater and a six year fixed rate bond.
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German car parts maker Schaeffler printed on March 27 €1.5bn of dual currency, senior secured high yield notes, capturing large savings.
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Barclays has hired Barry Meyers, an executive director from JP Morgan, to be head of UK equity capital markets.
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Malaysia’s Malakoff may set aside 60%-70% of its MR2.74bn ($744.16m) IPO for cornerstone investors as foreign funds shy away from the local stock market.
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Swiss company Holcim has shed its entire stake in Siam City Cement to net Bt22.15bn ($679m), via a bookbuilding process that went on from the evening of March 26 (Thursday) until the weekend as key investors took their time placing their orders. In the end though 90% of the shares went to Jardine Cycle & Carriage, which was eager to get its hands on the Thai stock.
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Standard Chartered has successfully sold its first AT1 bond though a less investor-friendly structure meant it was forced to pay up compared to a recent deal from rival HSBC. But investors were undeterred as the bond managed to attract a $22bn order book – the largest ever for a single tranche AT1 bond, say bankers.
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HSBC's additional tier one bond, sold this week, included a feature that helps insulate issuers from secondary market volatility, and which bankers say is destined to become broadly used in the asset class, writes Graham Bippart.
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A €275m loan backing the sale of E.ON's Spanish and Portuguese assets is still in the leveraged finance market, after passing an initial March 20 deadline for commitments without the book being closed.
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Agence France Locale scored a strong success with its debut bond this week, as investors lapped up a rare opportunity to buy core eurozone paper with a healthy spread.
