News content
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Rustavi Azot released price guidance for its $180m five year non-call three notes and now expects to price the bond on Monday.
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Zambia has released price guidance of 9.25%-9.75% for an 11 year amortising bond, at a yield level that was the highest for a sub-Saharan African sovereign benchmark.
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Bank of Communications managed to pull off a super-aggressive trade this week, pricing its $2.45bn additional tier one (AT1) offering in line with its larger peers Bank of China (BoC) and Industrial and Commercial Bank of China (ICBC). The key to that impressive feat was taking advantage of an investor base that had been starved of bank capital paper as well as higher yielding products, writes Rev Hui.
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CICC in limelight for $1bn — LIG Nex1 gets IPO nod — Pakistan preps for State Life sale — San Miguel brews $739m
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Barbados-headquartered insurance company and financial services group Sagicor Financial Corporation will meet fixed income investors next week ahead of a potential senior unsecured bond issue that it plans to use to buy back existing debt.
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The Republic of Indonesia returned to the euro market on July 23 as it looks to extend its curve with a new 10 year offering.
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CICC has filed its long-awaited IPO with the Hong Kong Stock Exchange, with the Chinese investment bank eyeing $1bn in proceeds. The trade is slated to launch at the end of September via leads ABC International and CICC, but interest is already building.
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DBP hunts for funds — Oxley out with S$110m — LK Machinery seeks HK$600m
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Bharti Airtel is reported to be eyeing a $1bn syndicated loan to fund its acquisition of telecoms spectrum in India. Bankers are hoping the deal is not the last from the country’s telco majors, which have so far failed to come offshore for funding since the spectrum auction earlier this year, writes Shruti Chaturvedi.
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Xinjiang Goldwind Science & Technology ventured into uncharted territory on July 16 issuing the maiden green bond by a Chinese issuer. While the deal is expected to be the first of many, investors were largely indifferent to the trade’s green credentials.
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Thai Union Frozen Products Public Company opened books for a Bt12.72bn ($371m) preferential public offering on July 20, following non-deal roadshows that brought positive feedback from the investor community.
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China Railway Signal & Communications Corp (CRSC) started investor education for its $2bn Hong Kong IPO on Monday, July 20, becoming the first issuer brave enough to proceed with its equity-raising plans following the mainland stock market’s dramatic collapse earlier this month.