JP Morgan
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State-owned Qatar Petroleum was in the bond market on Monday with a multi-tranche bond that included a Formosa issue. Investors, meanwhile, say they expect the sovereign — one of the only Gulf states to have been absent from markets so far this year — to sell bonds imminently. -
Chinese online grocer Missfresh saw its share price sink on its trading debut, after it priced its Nasdaq IPO at the bottom of the marketed range.
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Altana, a German speciality chemicals company, has moved its main bank line to a sustainability-linked structure, with the borrower negotiating a margin in line with its pre-coronavirus pandemic levels.
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Xpeng has kicked off its Hong Kong secondary listing, the first from a Chinese electric vehicle maker.
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Chinese ride-hailing firm Didi Chuxing has launched its New York Stock Exchange IPO, aiming to raise $4.03bn from the largest China-into-US listing since Alibaba Group Holding’s jumbo $25bn deal in 2014.
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The dollar corporate bond market continued to show its resilience this week, but concerns are growing over a lack of supply in the run-up to the July 4 holiday weekend.
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Anadolu Efes, the Turkish brewer, returned to the market this week to issue a new bond and launch a tender for its dollar debt. Investors say it is one of the more attractive credits from the country, despite domestic economic volatility.
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A smattering of smaller euro issuers made the most of an attractive window this week, as they looked to use the stable conditions to take “some risk off the table” ahead of the summer break.
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Gazprom ended a three year absence from the Swiss franc market this week by attracting a large amount of retail participation in a Sfr600m ($653.4m) deal that launched at an attractive spread.
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Europe’s high grade corporate bond market had a patchy week of issuance, with borrowers dancing around the overhang from the US Federal Reserve meeting and Thursday’s Bank of England equivalent.
