JP Morgan

Technology firm Alibaba Group Holdings lodged its preliminary prospectus with the US Securities and Exchange Commission to great fanfare this week, as this much-hyped business moved a step closer to listing. However, key information on the IPO — such as how big it will be — remains in scarce supply, writes Rev Hui.

Delek & Avner has managed to slice over 50bp off initial price talk on the longest bond of its $2bn five tranche deal, bringing the final spreads safely inside Israel Electric Company, its closest comparable for the whole curve. Books stand at $13bn-$14bn.

Media companies are rare birds in the European corporate bond market, so it was a surprise on Wednesday when, with Pearson in the midst of a roadshow, it was leapfrogged by Wolters Kluwer, which brought out a €400m no-grow deal.

Schaeffler, the German ball bearing maker, released initial price thoughts for the three euro tranches of its €2bn high yield bond issue on Wednesday morning.

Integrated Dental Holdings, the UK dental care group owned by Carlyle, priced a £100m tap of its December 2018 floating rate notes at the tight end of guidance on Tuesday.

Alibaba moved a stepped closer to its high anticipated IPO with the company filing its preliminary prospectus to the US Securities and Exchange Commission on May 6.

Online cosmetics marketplace operator launched the bookbuilding process for its IPO in New York on May 7 in a transaction worth up to $194m and pitching its shares at a huge discount to its closest rival.

Brazilian lender Caixa Econômica Federal’s latest bond issue on Tuesday showed that concerns about the government’s use of state banks to increase economic growth are not preventing these institutions from capitalising on consistent demand for LatAm debt.

Paroc Group, the Finnish maker of insulation materials, has embarked on a five day European roadshow to market a €430m high yield bond issue.

Integrated Dental Holdings, the UK dental care group owned by Carlyle, returned to the sterling high yield market on Monday for a £100m tap of its December 2018 floating rate notes.

German ball bearing maker Schaeffler launched the second stage of its latest debt refinancing on Monday, announcing a €2bn high yield issue in four tranches.

Nets, the Danish payment and information services firm, has set price guidance on its €1.2bn term loan 'B'.