Morgan Stanley
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The New Development Bank is looking to take advantage of the strong demand in dollars by bringing its long-awaited inaugural trade in the currency as part of its response to the coronavirus pandemic. -
Burning Rock Biotech is planning to float on Nasdaq for as much as $100m.
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Pfizer was at its opportunistic best this week as it issued $4bn of notes that included the lowest ever coupon on a corporate five year bond.
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SK Biopharmaceuticals is set to reopen the South Korean IPO market with a W959.3bn ($779.9m) listing, according to a source close to the deal.
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Royal Bank of Scotland Group took advantage of the strong appetite for senior debt in dollars this week, issuing $1.6bn of funding across two tranches. The deal, which included the first dollar issuance of green UK bank paper, offered no premium to investors.
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Property company HongKong Land made a rare appearance in the dollar bond market on Tuesday, ending a six year hiatus with a $600m trade.
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Chinese property borrowers are back in the bond market, following the success of Zhenro Properties Groups’ $200m deal last week. But Tuesday’s issuers — Country Garden Holdings Co and Redco Properties Group — saw two different outcomes, as they grappled with an illiquid secondary market and difficult pricing levels.
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Belgium took advantage of more attractive funding conditions in dollars versus euros and strong demand at the 10 year point of the curve to sell its first dollar bond since 2017 on Tuesday. SSA supply in dollars will continue on Wednesday with the Asian Infrastructure Investment Bank and Nederlandse Waterschapsbank bringing socially responsible deals.
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Following last week’s record-breaking Gilt syndication, the UK returned for another impressive result, scooping up £7bn from a £52bn book and pricing with a minimal new issue premium, according to the leads.
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Belgium is set to issue its first dollar bond since 2017 as euro funders continue to take advantage of the attractive funding conditions in the currency, with three other public sector borrowers also in the market for dollars.
