Morgan Stanley
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BOC Aviation landed safely with its dual-tranche bond on Monday, pricing both the $500m portions inside its curve. While participation from US investors was significant, Asian accounts were still the price leaders, helping the issuer keep its costs low, said bankers. -
Coca-Cola Icecek is refreshing the buyside with the first Turkish corporate trade for 18 months. However, while the deal was “flying out of the door” according to one syndicate banker, the 25bp-30bp pick up over the Turkish sovereign is not quite enough to quench the thirst of some.
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Mercedes-Benz Auto Finance is gearing up for its second deal in China’s securitization market this year as it beefs up its operations in the Mainland.
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The Korea Development Bank is courting investors for a triple-tranche dollar offering, including a new floating rate note and a fixed rate note, as well as a tap of its existing floating 2022s.
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On Monday, Japanese brewer Asahi Group brought the fourth European bond issue by a beer producer in Europe in 2017. The €1.2bn dual tranche offering was the largest of four new issues in the euro corporate bond market, all of which were rated triple-B and paid double digit new issue premiums.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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BOC Aviation took off with its first dollar-denominated dual-tranche offering on Monday, marking a rapid return to the international debt market this year.
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China’s RYB Education is slated to open books on Thursday for its $100m IPO on the New York Stock Exchange, said bankers leading the trade.
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Two top executives of China Medical System Holdings raised HK$1.2bn ($156.4m) from an overnight bookbuild on Thursday, opting for size over price.
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On Tuesday, pharmaceutical firm GlaxoSmithKline returned to the corporate bond market for the first time since November 2014, and its rarity value contributed to combined order books of over €5.5bn for the triple tranche deal.
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Capital Stage, the German renewable energy company, launched its first convertible bond on Wednesday, raising €97.3m. The deal came from a different corner of the CB world from the Qiagen transaction on the same day: it was a hybrid deal, structured to receive equity credit under IFRS.
