Morgan Stanley
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KfW picked banks on Monday to lead the dollar market's first three year SSA deal of the year, while infrequent issuer Canada is looking to ride the recent wave of five year dollar supply after appointing banks to lead a new benchmark deal. -
The sluggish European loan market has been dealt another blow this week, after Takeaway.com got overwhelming support for its all share merger with Just Eat to kill a £5.5bn ($7.16bn) loan funded rival offer from Prosus.
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Hong Kong-listed Anta Sports Products hit the market with a €1bn convertible bond on Monday after the close of business, according to a term sheet seen by GlobalCapital Asia.
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China’s challenger to Starbucks, Luckin Coffee, has raised $979.6m after increasing the size of a combined sale of new shares and a convertible bond, the first tap of the ADS equity-linked market in 2020.
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Mainland-based property developer Sunac China Holdings has raised HK$8bn ($1.03bn) after issuing a chunk of new shares.
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Improved market conditions and a more realistic pricing target allowed a failed deal in December from a local government financing vehicle (LGFV) to sail through this week, while two more property developers joined an offshore funding spree from the sector.
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Chinese technology company Tencent Holdings is set to sign a €1bn club loan to support its acquisition of a stake in Universal Music Group.
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The 2020 syndicated loan market has made a far slower start to the year than in 2019, with not even $1bn of deals signed globally. Some bankers fear this is set to be another tepid year for European loans.
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Investors piled into the euro public sector bond market on Wednesday, allowing borrowers to achieve well subscribed order books and minimal new issue concessions for a range of maturities.
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A Dkr6.4bn (€856m) block of shares in Danish renewable energy firm Ørsted reopened the EMEA ECM market on Tuesday evening and attracted huge investor demand for the stock — including from ESG investors.
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Luckin Coffee, China’s answer to Starbucks, has launched a combined follow-on offering and convertible bond issue to raise up to $821m.
