JP Morgan
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Monier has sold its €565m of bonds and loans in floating rate products only. The French roof tile maker priced €315m of high yield FRNs and €250m of term loans and scrapped a fixed rate bond tranche, even though fixed rate interest would have been marginally cheaper.
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China tech goes viral – Leju launches $212m IPO – Tuniu hopes for bullish market with $120m US IPO – Malaysia's Kuok sets sail with $334m Posh IPO – Rapid growth key to Ichitan’s $120m IPO – L&T gauges investor appetite for $800m business trust
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The heat in the LatAm bond market crept up a notch after Brazil’s Gerdau captured a 12 times subscribed book for its latest bond on and Abengoa’s deal shot up a remarkable five points in secondary the day after pricing.
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With Indian credits now back in favour, State Bank of India looks set to make a positive re-entry into the dollar market.
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Hang Lung Properties priced a rare seven year bond on April 10 while managing to come in under its existing curve. Though unrated, the issuer is a household name in Hong Kong, and Asian investors lapped up the new offering.
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Greece’s capital market comeback bond will be priced at the tight end of guidance on Thursday after the sovereign drew an extremely large book to the deal.
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Final guidance is out for China Unicom (Hong Kong)'s debut dim sum deal, as the deal continues to amass orders. The book for the three year offering has now hit Rmb9bn, after kicking off on Thursday morning.
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FGA Capital, the car finance company jointly owned by Fiat and Credit Agricole, sold another blowout bond today, after a run of highly sought-after deals.
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Volkswagen’s thirst for funding appears unslakeable at present. The first three months of this year were its busiest quarter for issuance ever, by a wide margin, but since April began VW has also been pumping out deals.
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Waterland Private Equity has exited its position in Dutch healthcare researchers Arseus, selling all of its 8.36m shares through an accelerated bookbuild.
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Turkey priced a €1bn 12 year euro transaction almost flat to its secondary curve this week, although there was some disagreement about where the borrowers outstanding euro bonds were trading before the new launch. But bankers on the bond argued that a slim concession, strong oversubscription and an impressively granular book had made the deal a clear success.
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Uruguay-headquartered Navios South American Logistics and Peruvian Abengoa Transmisión Sur joined the ranks of Latin American borrowers taking advantage of strong issuance conditions in dollar markets with well-bid deals on Tuesday.