JP Morgan
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Westpac New Zealand attracted plenty of demand on its rare trip to the senior euro market this week, printing its €750m deal flat to fair value. -
A succession of debut labelled deals are filling the FIG pipeline as issuers look to make use of the last window ahead of the summer break. ESG bonds from SpareBank 1 SR-Bank and Banco BPM are set to join the already mandated Banca Popolare di Sondrio and Arion Bank in the market later this week.
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UK private equity group Bridgepoint has confirmed its intention to float on the London Stock Exchange.
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Finland’s Municipality Finance has sold its first bond linked to one of the new risk-free rates, opting for the Secured Overnight Financing Rate for its $200m floater.
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Europe’s high grade corporations are lining up bond issues in euro and sterling for this week, which could be the last before the market slows down for a summer break. Meanwhile, analysts and investors agree that there is considerable room for borrowers to sharply ramp up primary market activity in the next session.
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Three infrequent FIG borrowers are set to drop into a stable euro market this week, with Arion Bank, Banca Popolare di Sondrio and Westpac New Zealand all preparing senior deals .
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South Korea’s busy IPO market is continuing to pump out deals, with the latest listings coming from Kakao Pay and Covid-19 test maker SD Biosensor. But issuers still have to be realistic, as Krafton found out when it shot for, but missed, the country’s largest ever IPO.
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Xpeng bagged HK$14bn ($1.8bn) this week from the first secondary listing in Hong Kong by a Chinese electric vehicle maker.
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Salesforce found deep demand to secure $8bn and fund the biggest acquisition in its history as the dollar corporate bond market remained wide open in the run-up to the July 4 holiday weekend.
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A trio of rare names made use of the attractive issuance conditions and strong appetite for credit to launch debut deals this week. Two of the borrowers — Illimity and Groupama — chose to print subordinated deals into this stable market, while Erste Bank Croatia sold its first public deal outside its home market.
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