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Logistics facility provider Global Logistic Properties (GLP) completed its debut outing in the dollar bond market in style, raising $1bn from a Reg S 10 year trade. Despite its first appearance, the company’s niche sector and link to GIC provided enough comfort to investors.
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The Democratic Socialist Republic of Sri Lanka made a well-received return to the international bond market on May 28, pricing a $650m 10 year bond inside its existing curve.
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Singaporean hospitality brand Banyan Tree Holdings has priced a five year note, reaping S$100m ($77m) from the offering.
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Information technology product distributor VST Computers Hong Kong has powered up a $150m three year amortiser in general syndication. The loan is being led by one bank and comes backed by two guarantors.
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Sadbhav Infrastructure Project has re-filed its prospectus with the Indian market regulator for an IPO, which will now raise a smaller Rp4.25bn ($66m) and has also re-jigged the bookrunning group.
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The announcement by index provider FTSE Russell to give A-shares a weighting in some of its indices is a further sign that China’s securities are ready to enter the wallets of global investors. And the firm has told GlobalRMB that it expects A-share inclusion in global indices within three years.
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China National Bluestar raised $1bn from its maiden dollar bond on May 28 as investors flocked to the state-owned chemical company’s dual tranche deal. Despite garnering almost twice as much demand for the longer dated bond, the borrower opted to raise equal amounts across the three and five year trades.
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Peking University Founder Group (Founder Group) tapped the dollar market for the first time on May 28 and managed to bag $500m from a three year bond. While the timing of the trade surprised market observers, they were impressed by the outcome.
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Legend Holdings, Red Star Macalline Group Corp and Shandong Weigao Orthopaedic Device Co plan to hold their respective listing hearings with the Hong Kong Stock Exchange on Thursday, June 4.
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China Railway Signal & Communication Corp (CRSC), the rail traffic control systems giant, has put up its draft prospectus with the Hong Kong Stock Exchange in an IPO that could raise up to $2bn.
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Sinochem Hong Kong launched its $500m three year bullet into general syndication on May 28. The company chose four mandated lead arrangers and bookrunners for the financing at the beginning of May.
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In this round-up, Taiwan RMB deposits hit a new record, Stock Connect northbound trading uses up half its quota six months after launch, the RQFII programme reaches Rmb383bn, the Azeri oil fund and Hungary’s central bank move to invest in China’s bond market, and OTC Clear welcomes new member.