News content
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BlackRock is set to price its first ever euro senior unsecured trade on Tuesday, opening books for a SEC registered 10 year print that had syndicate bankers struggling to pin down relative value.
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Germany has updated its draft bail-in law, aligning Schuldscheine and registered bonds with senior unsecured as Total Loss Absorbing Capacity (TLAC) eligible debt.
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The Polish sovereign is on track to price a three year Swiss franc deal on Tuesday afternoon, which would be the first ever public emerging market bond to offer a negative yield.
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Emirates Telecommunications Corp (Etisalat) has released final price guidance for a $400m tap of its $500m 2.375% June 2019s that equates to around a 7.5bp new issue premium, according to an analyst in London.
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China Galaxy Securities has raised a jumbo HK$23.98bn ($3.1bn) via a private placement of H-shares, in what is now the third largest follow-on offering in Asia ex-Japan this year. The deal followed an extensive wall-crossing process completed over the weekend, with Chinese investors piling into the transaction.
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Oil and gas giant China National Offshore Oil Corporation (CNOOC) opened books to a multi-tranche dollar offering on April 28 in a bid to take advantage of a buoyant primary Asian bond market.
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Nidera, the Dutch grain trading company, has signed a $900m working capital revolving credit facility after at least three months in syndication.
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Low-cost airlines VietJet Air has signed up three banks to co-ordinate a planned $200m-$300m IPO, with decisions about which exchange to list the shares still up in the air.
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Bank of India (BOI) is back in the dollar bond market on Tuesday, April 28, breaking two years of silence.
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Hong Kong utility firm CLP Power made a successful return to the dollar bond market on April 27, with a $300m offering that had investors scurrying for more, thanks to a book that was almost 10 times covered.
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UFO Moviez has pressed the play button on its Rp6.125bn ($96m) Indian IPO, starting the bookbuilding process on April 28. The deal has already seen some strong names coming in as anchor investors, but volatility in the secondary market is creating a big distraction to investors.
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Rumours of more easing by the People's Bank of China (PBoC) have triggered a CNY rates rally and good receiving in one to five year CNY swaps so far this week. Domestic payers emerged in the one year sector on Tuesday, flattening the 1s/5s NDIRS slope, writes Deirdre Yeung of Total Derivatives.