News content
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SSA borrowers are set to turn to give up on euro finding for the summer after Greece rejected creditors' proposals in a referendum on Sunday. The dollar market looks to be their likely destination. -
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China Huarong Asset Management has filed a preliminary prospectus for a chunky $3bn Hong Kong IPO despite the weak performance of its closest comparable, China Cinda Asset Management.
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Equity capital markets were tense but calm on Monday, after Greek voters rejected creditors’ bailout terms in Sunday’s referendum.
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Innocean Worldwide has raised W340bn ($302m) from its South Korean IPO by pricing the deal just above the middle of guidance despite turbulent times for markets, thanks to domestic institutions signing up in droves and pushing pricing higher.
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The Democratic Socialist Republic of Sri Lanka is eyeing the syndicated loan market having started sounding banks out over a possible $500m trade.
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There was renewed bemusement on bond desks in Asia on Monday after Greeks voted against bailout measures over the weekend. There were no new dollar mandates as secondary prices widened but offshore renminbi bond issuers are testing the market.
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China Resources Pharmaceutical Group (CR Pharma) it raised $281m from a three year bullet loan having attracted commitments from a total of seven banks.
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China took more drastic measures over the weekend to restore calm in its roiling stock market, including setting up a stabilisation fund and curbing new IPOs. Shares jumped as much as 8% on the news but ECM bankers say it does not go far enough to put a floor under the sell-off.
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Manulife US Real Estate Investment Trust (Reit) has snatched away hopes of Singapore seeing its first sizeable IPO this year, scrapping plans for a S$569m ($426m) listing amid turbulence in global markets.
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Analysts at Deutsche Bank said on Friday in their review of the European high yield market that a rise in the main US interest rate would damage the second half of the year for the high yield market as much as a Grexit.
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Elecnor, the Spanish engineering company, has refinanced €600m of loans, extending the deal for another five years but keeping the same size.
