News content

Trading for the Chicago Board Options Exchange's equity volatility futures expanded rapidly in recent weeks as investors girded for a possible rate hike from the Federal Reserve.

Daimler, the German auto company, has come to market with the first sterling offering by any borrower since August, albeit in the modest form of a £125m tap.

British member club operator Soho House on Friday began roadshowing its £200m bond, offering the market its first Caa1 credit since July.

Equity capital markets bankers are still convinced the conditions are ripe for a wave of IPOs and block trades, even though European stockmarkets fell 2.5% this morning, after the US Federal Reserve decided last night not to raise interest rates.

Worldpay, the UK payment processing group, expressed its intention to float last Friday, bolstering hopes among equity capital market specialists that it would bring one of the largest IPOs in London this year, despite recent reports of takeover bids.

Turkcell has mandated BNP Paribas, Citi and HSBC for a debut dollar bond and is set to meet investors in the US and Europe next week ahead of the deal.

Immofinanz, the Austrian property company, conducted a €150m accelerated bookbuild on Tuesday evening in shares of its affiliate Buwog, a residential property developer. It was the culmination of a complex and carefully designed process to redeem a €375m exchangeable bond. The sale was priced at the market closing price, without a discount.

China Development Bank is set to meet investors from September 21 in Europe ahead of issuing bonds in multiple currencies.

China Reinsurance Corp and CICC passed their respective listing hearings with the Hong Kong Stock Exchange on September 17, clearing the way for a pair of chunky IPOs in the city.

London will continue to be the largest western RMB hub thank to the city’s sophisticated financial services and the close relationships between the UK and China, argued Alderman Alan Yarrow, the Lord of Mayor of the City on London on September 18 in Hong Kong.

Chinese paediatric nutrition company, Biostime International, has signed a $450m one year bridge loan to fund its acquisition of Australian firm Swisse Wellness.

The Federal Reserve backed away from its first rate rise in nearly a decade due to concerns about a weak global economy, with talks now moving to a potential hike at the end of the year. Market observers in Asia reckon it’s time to move away from the Fed and focus on concerns closer to home.